Question: The function f(t)=4000 e 0.01t represents the rate of flow of money in dollars per year. Assume a 10-year period at 4% compounded continuously. Find(a)
The function f(t)=4000e0.01t represents the rate of flow of money in dollars per year. Assume a 10-year period at 4% compounded continuously. Find(a) the presentvalue, and(b) the accumulated amount of money flow at t=10.
a. The present value is $
(Do not round until the final answer. Then round to the nearest cent asneeded.)
b.The accumulated amount of money flow at t=10 is $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
