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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.

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.

Advanced Engineering Mathematics
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. Enter your answer as an integer or decimal number. Examples: 3,-4, 5.5172 Enter DNE for Does Not Exist, oo for Infinity
Transcribed Image Text: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. Enter your answer as an integer or decimal number. Examples: 3,-4, 5.5172 Enter DNE for Does Not Exist, oo for Infinity
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