An investor purchased a piece of waterfront property. Because of the development of a marina in...

 

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An investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market value of the property is expected to increase according to the rule Kt) = 60,000e¹t/2 where Kt) is measured in dollars and it is the time (in years) from the present. If the rate of appreciation is expected to be 5% / year compounded continuously for the next 8 years, find an expression for the present value P() of the property's market price valid for the next 8 years. P(t) = What is P(t) expected to be in 4 years? (Round your answer to the nearest cent.) $ An investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market value of the property is expected to increase according to the rule Kt) = 60,000e¹t/2 where Kt) is measured in dollars and it is the time (in years) from the present. If the rate of appreciation is expected to be 5% / year compounded continuously for the next 8 years, find an expression for the present value P() of the property's market price valid for the next 8 years. P(t) = What is P(t) expected to be in 4 years? (Round your answer to the nearest cent.) $