A money market fund has a continuous flow of money at a rate of f(x)=0.07x+100 for 10 years. Find the present value of this flow if interest is earned at 4% compounded continuously. Round to the nearest cent.
A money market fund has a continuous flow of money at a rate of f(x)=0.07x+100 for 10 years. Find the present value of this flow if interest is earned at 4% compounded continuously. Round to the nearest cent.
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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A money market fund has a continuous flow of money at a rate of f(x)=0.07x+100 for 10 years. Find the present value of this flow if interest is earned at 4% compounded continuously. Round to the nearest cent.
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