Assuming an interest rate of 5% compounded continuously, (a) Find the future value in 6 years of
Question:
Assuming an interest rate of 5% compounded continuously,
(a) Find the future value in 6 years of a payment of $12,000 made today.
(b) Find the future value of an income stream of $2000 per year over 6 years.
(c) Which is larger, the future value from the lump sum in part (a) or from the income stream in part (b)? Explain why this makes sense financially.
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a The future value is Future value 12000e 0056 1619831 b We ...View the full answer
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Related Book For 
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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