Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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A 5-year contract provides earnings which can be modeled by the income function:
c(t)=300,000+200,000tc(t)=300,000+200,000t
If the annual inflation rate is 3 %, then the present value of the contract is given by:
∫50(300,000+200,000t)e−0.03tdt∫05(300,000+200,000t)e-0.03tdt
Find the present value of the contract. You may use technology to evaluate the integral and should round your final answer to two decimal places.
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