If income is continuously collected at a rate of f(t) dollars per year and will be invested
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If income is continuously collected at a rate of f(t) dollars per year and will be invested at a constant interest rate r (compounded continuously) for a period of T years, then the future value of the income is given by ∫T0 f(t) er(T – t) dt. Compute the future value after 6 years for income received at a rate of f(t) = 8000 e0.04t dollars per year and invested at 6.2% interest.
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Related Book For
Calculus Early Transcendentals
ISBN: 9781337613927
9th Edition
Authors: James Stewart, Daniel K. Clegg, Saleem Watson, Lothar Redlin
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