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Svet_ta [14]
3 years ago
15

Suppose that you discover in your attic an overdue library book on which your grandfather owed a fine of 30 cents 100 years ago.

if an overdue fine grows exponentially at a 5% annual rate compounded continuously, how much would you have to pay if you returned the book today? (hint: if a(t) is the balance at the time t, then , where r is the interest rate expressed as a decimal, not in the percentage form).
Business
1 answer:
agasfer [191]3 years ago
4 0
FV=P*e^rt, where FV is future value, P is the principal, r is the interest rate, and t is the time. So in this case, we have:
FV=.30*e^100*0.05=.3*e^5=$44.524 due in fines, or 148 times the original 30-cent fine
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Answer:

generally receives favorable tax treatment relative to a corporation.

Explanation:

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But in this it received the favorable tax treatment as compared with the corporation

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3 years ago
Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year. At the end of th
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Answer: 4%

Explanation:

From the question, we are informed that Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year and that at the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million.

Based on the above scenario, the percentage rate of return on plan assets goes thus:

Opening balance of plan assets 1200

Add:- Actual return = 48

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The percentage rate of return on plan assets will now be:

= 48/1200

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4 0
3 years ago
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Murphy's, Inc., has 85,000 shares of stock outstanding with a par value of $1 per share. The market value is $12 per share. The
nexus9112 [7]

Answer:

The correct answer is $177,955.

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8 0
3 years ago
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Slav-nsk [51]

Answer:

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4 0
3 years ago
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