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n investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market alue of the property is expected to increase according to the rule v(t) = 50,000e" here V(t) is measured in dollars and t is the time (in years) from the present. If the rate of appreciation is expected to %/year compounded continuously for the next 8 years, find an expression for the present value P(t) of the property's harket price valid for the next 8 years. (t) =| /hat is P(t) expected to be in 2 years? (Round your answer to the nearest cent.)

n investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market alue of the property is expected to increase according to the rule v(t) = 50,000e" here V(t) is measured in dollars and t is the time (in years) from the present. If the rate of appreciation is expected to %/year compounded continuously for the next 8 years, find an expression for the present value P(t) of the property's harket price valid for the next 8 years. (t) =| /hat is P(t) expected to be in 2 years? (Round your answer to the nearest cent.)

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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An investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market value of the property is expected to increase according to the rule V(t) = 50,000e♥ where V(t) is measured in dollars and t is the time (in years) from the present. If the rate of appreciation is expected to be 4%/year compounded continuously for the next 8 years, find an expression for the present value P(t) of the property's market price valid for the next 8 years. P(t) = What is P(t) expected to be in 2 years? (Round your answer to the nearest cent.) $
Transcribed Image Text:An investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market value of the property is expected to increase according to the rule V(t) = 50,000e♥ where V(t) is measured in dollars and t is the time (in years) from the present. If the rate of appreciation is expected to be 4%/year compounded continuously for the next 8 years, find an expression for the present value P(t) of the property's market price valid for the next 8 years. P(t) = What is P(t) expected to be in 2 years? (Round your answer to the nearest cent.) $
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