
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Transcribed Image Text:Solving A = Pert for P, we obtain P = Aert which is the present value of the amount A due in t years if money earns interest at an annual nominal rate r compounded continuously. For the function P = 6,000e 0.04, in how many years will the $6,000 be due in order for its present
value to be $4,000?
In
years, the $6,000 will be due in order for its present value to be $4,000.
(Type an integer or decimal rounded to the nearest hundredth as needed.)
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