Find the present value of a $3, 000 annual income stream if it is invested immediately as it is received into anaccount paying 12% interest compounded continuously forever. Round your answer to the nearest cent.Enter your answer as an integer or decimal number. Examples: 3,-4, 5.5172Enter DNE for Does Not Exist, oo for Infinity

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Answered: Find the present value of a $3, 000…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Find the present value of a $3, 000 annual income stream if it is invested immediately as it is received into an account paying 12% interest compounded continuously forever. Round your answer to the nearest cent.