Question: Previous Problem Problem List Next Problem (1 point) This problem is similar to one in your textbook. Suppose that a company needs now equipment, and
Previous Problem Problem List Next Problem (1 point) This problem is similar to one in your textbook. Suppose that a company needs now equipment, and that the machinery in question carns the company revenue at a continuous rate of 540001 + 40000 dollars per year during the first six months of operation, and at the continuous rate of $67000 per year after the first six months. The cost of the machine is $155000. The Interest rate is 5% per year, compounded continuously. a) Find the present value of the revenue earned by the machine during the first year of operation. Round your answer to the nearest cent Value: $ b) Determine how long it will take for the machine to pay for itself that is, how long until the present value of the revenue is equal to the cost of the machine. Round your answer to the nearest hundredth. Years: You can view a streaming video of the solution of a version of this problem at M119Tube solution Note: You can earn partial credit on this
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