A 10-year annuity makes continuous payments. At time tt, the annuity pays at an annual rate of (30−3t)(30−3t). Time is measured in years. At an annual effective interest rate of 5%, calculate the present value of the annuity. A. 128.31 B. 140.18 C. 144.51 D. 156.00 E. 201.03
A 10-year annuity makes continuous payments. At time tt, the annuity pays at an annual rate of (30−3t)(30−3t). Time is measured in years. At an annual effective interest rate of 5%, calculate the present value of the annuity. A. 128.31 B. 140.18 C. 144.51 D. 156.00 E. 201.03
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 26E
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A 10-year annuity makes continuous payments. At time tt, the annuity pays at an annual rate of (30−3t)(30−3t). Time is measured in years.
At an annual effective interest rate of 5%, calculate the present value of the annuity.
A. 128.31
B. 140.18
C. 144.51
D. 156.00
E. 201.03
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