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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