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Nitella [24]
3 years ago
6

Money Flow  The rate of a continuous money flow starts at $1000 and increases exponentially at 5% per year for 4 years. Find the

present value and accumulated amount if interest earned is 3.5% compounded continuously.
Mathematics
1 answer:
77julia77 [94]3 years ago
8 0

Answer:

Present value =  $4,122.4

Accumulated amount = $4,742

Step-by-step explanation:

Data provided in the question:

Amount at the Start of money flow = $1,000

Increase in amount is exponentially at the rate of 5% per year

Time = 4 years

Interest rate = 3.5%  compounded continuously

Now,

Accumulated Value of the money flow = 1000e^{0.05t}

The present value of the money flow = \int\limits^4_0 {1000e^{0.05t}(e^{-0.035t})} \, dt

= 1000\int\limits^4_0 {e^{0.015t}} \, dt

= 1000\left [\frac{e^{0.015t}}{0.015} \right ]_0^4

= 1000\times\left [\frac{e^{0.015(4)}}{0.015} -\frac{e^{0.015(0)}}{0.015} \right]

= 1000 × [70.7891 - 66.6667]

= $4,122.4

Accumulated interest = e^{rt}\int\limits^4_0 {1000e^{0.05t}(e^{-0.035t}} \, dt

= e^{0.035\times4}\times4,122.4

= $4,742

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