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Solving A = Pet for P, we obtain P=Ae" 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 = 6,000 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.)

Solving A = Pet for P, we obtain P=Ae" 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 = 6,000 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.)

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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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.)
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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