A money market fund has a continous flow of money at a rate of f(x)=0.07x+700 for 10 years. Find the presnt value of this flow if interest is earned at 5% compounded continuosly.
A money market fund has a continous flow of money at a rate of f(x)=0.07x+700 for 10 years. Find the presnt value of this flow if interest is earned at 5% compounded continuosly.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 29PS: What rate of interest to the nearest hundredth of percent is needed so that an investment of 2500...
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A money market fund has a continous flow of money at a rate of f(x)=0.07x+700 for 10 years. Find the presnt value of this flow if interest is earned at 5% compounded continuosly.
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