The present value of y dollars after x years at 15% continu- ous interest is f (x, y) = ye-0.15x, Sketch some sample level curves. (Economists call this collection of level curves a dis- count system.)

The present value of y dollars after x years at 15% continu- ous interest is f (x, y) = ye-0.15x, Sketch some sample level curves. (Economists call this collection of level curves a dis- count system.)

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The present value of y dollars after x years at 15% continu-
ous interest is f(x, y) = ye¬0.15x. Sketch some sample level
curves. (Economists call this collection of level curves a dis-
count system.)

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