Let P(t) denote the balance at time t (years) of an annuity that earns 5% interest continuously
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Let P(t) denote the balance at time t (years) of an annuity that earns 5% interest continuously compounded and pays out $20,000/year continuously.
What is the minimum initial balance that will allow the annuity to make payments indefinitely?
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Data Form Exercise 35 In Exercise 35 we found that the balance at time ...View the full answer
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