The function in Exercise represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded cont inuously and find the following: (a) the present value; (b) the accumulated amount of money flow at t=10.
1 answer:
Answer: f(t) = 800e^0.08*10 =
= 800(2.7183^0.08*10
=$8666.3
Step-by-step explanation:
f(t)= pe^rt where f(t) is future value,
P is present value, e is mathematical constant and it is approximately equal to 2.7183, r is rate of interest and it is equal to 8%, t is number of years and it is equal to 10. Future value is the accumulated value.
P = f(t) ÷{e^rt).
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