The management of a national chain of fast-food outlets is selling a 10-year franchise in Cleveland, Ohio.
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The management of a national chain of fast-food outlets is selling a 10-year franchise in Cleveland, Ohio. Past experience in similar localities suggests that t years from now the franchise will be generating profit at the rate of f(t) = 100,000 dollars per year. If the prevailing annual interest rate remains fixed at 4% compounded continuously, what is the present value of the franchise?
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Related Book For 
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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