(a) Explanation Given: The firm guarantees her pension of $40,000 per year at age 65 and the inflation rate for next 15 year is 3% and it is compounded continuously. Formula used: The formula to calculate the amount in continuous compounding is, A = P e r t Where P is principal amount, r is interest rate, A is accumulated amount and t is time duration (in years). Calculation: The employer guarantees her to pay pension of $40,000 per year at age 65 that means the accumulated amount is $40,000. She is 50 years old now and at the age of 65 she is supposed to get her first pension that means the time duration is 15 years and in these 15 years the inflation rate is 3%. Convert the inflation rate into decimal form. 3 % = 3 100 = 0.03 Here, A is 40,000, t is 15 and r is 0 (b) To determine The present value of Eleni’s first year pension when inflation rate over the next 15 years is 4%. (c) To determine The present value of Eleni’s first year pension when inflation rate over the next 15 years is 6%.

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

10th Edition

ISBN: 9781305657861

Author: Soo T. Tan

Publisher: Cengage Learning

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Chapter 5.3, Problem 48E

(a)

To determine

The present value of Eleni’s first year pension when inflation rate over the next 15 years is 3%.

(b)

To determine

The present value of Eleni’s first year pension when inflation rate over the next 15 years is 4%.

(c)

To determine

The present value of Eleni’s first year pension when inflation rate over the next 15 years is 6%.

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Chapter 5.3, Problem 47E

Chapter 5.3, Problem 49E

Chapter 5 Solutions

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

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Prob. 17E Ch. 5.6 - Prob. 18E Ch. 5.6 - DEMAND FOR COMPUTERS Universal Instruments found...Ch. 5.6 - Prob. 20E Ch. 5.6 - Prob. 21E Ch. 5.6 - Prob. 22E Ch. 5.6 - GROWTH OF A FRUIT FLY POPULATION On the basis of...Ch. 5.6 - Prob. 24E Ch. 5.6 - Prob. 25E Ch. 5.6 - Prob. 26E Ch. 5.6 - Prob. 27E Ch. 5.6 - Prob. 28E Ch. 5.6 - Prob. 29E Ch. 5.6 - Prob. 30E Ch. 5.6 - Prob. 31E Ch. 5.6 - Prob. 32E Ch. 5.6 - Prob. 33E Ch. 5.6 - Prob. 34E Ch. 5.6 - Prob. 35E Ch. 5.6 - Prob. 36E Ch. 5.6 - Prob. 37E Ch. 5.6 - Prob. 38E Ch. 5.6 - Prob. 1TE Ch. 5.6 - Prob. 2TE Ch. 5.6 - Prob. 3TE Ch. 5.6 - Prob. 4TE Ch. 5.6 - Prob. 5TE Ch. 5.6 - Prob. 6TE Ch. 5.6 - Prob. 7TE Ch. 5.6 - Prob. 8TE Ch. 5 - Prob. 1CRQ Ch. 5 - Prob. 2CRQ Ch. 5 - Prob. 3CRQ Ch. 5 - Prob. 4CRQ Ch. 5 - Prob. 5CRQ Ch. 5 - Prob. 6CRQ Ch. 5 - Prob. 7CRQ Ch. 5 - Prob. 8CRQ Ch. 5 - Prob. 9CRQ Ch. 5 - Prob. 10CRQ Ch. 5 - Prob. 1RE Ch. 5 - Prob. 2RE Ch. 5 - Prob. 3RE Ch. 5 - Prob. 4RE Ch. 5 - Prob. 5RE Ch. 5 - Prob. 6RE Ch. 5 - Prob. 7RE Ch. 5 - Prob. 8RE Ch. 5 - 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The present value of Eleni’s first year pension when inflation rate over the next 15 years is 3%.

Solution Summary: The author calculates the present value of Eleni's first year pension when inflation rate over the next 15 years is 3%.

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The present value of Eleni’s first year pension when inflation rate over the next 15 years is 3%.

The present value of Eleni’s first year pension when inflation rate over the next 15 years is 4%.

The present value of Eleni’s first year pension when inflation rate over the next 15 years is 6%.

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