
Yefim S. answered 09/05/20
Math Tutor with Experience
FV = ∫0Tf(t)er(T -t)dt = ∫05(3000+ 50t)e0.04(5 - t)dt = $17274.04.
I use TI-84 to evaluate this integral
Milan B.
asked 09/04/20john whos a store manager is considering 5yr investment and estimated that t years from now it will be generating a continuous income stream of 3000 + 50t dollar per year. If the prevailing annual interest rate remains fixed at 4% compounded continuously during the entire 5 year term, what should be the investment worth in 5 years? (Future value)
where T is duration of the term, f(t) is continuous generating income per year, r is annual rate of interest.
Yefim S. answered 09/05/20
Math Tutor with Experience
FV = ∫0Tf(t)er(T -t)dt = ∫05(3000+ 50t)e0.04(5 - t)dt = $17274.04.
I use TI-84 to evaluate this integral
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Milan B.
I forgot to convert the rate of interest to divide it by 100 and used 4 instead of 0.04 and got thus got the answer 365390036937 which is incorrect. Thank you sir.09/05/20