Question
For the year ending June 30, 2009, the revenue of the Sara Lee Corporation was $12.88 billion. Assume that Sara Lee's revenue will increase by
For the year ending June 30, 2009, the revenue of the Sara Lee Corporation was $12.88 billion. Assume that Sara Lee's revenue will increase by 5% per year and that beginning on July 1, 2009, 3.5% of the revenue was invested each year (continuously) at an APR of 5% compounded continuously.
(a) Write the flow rate equation.
R(t) = (blank) billion dollars per year (b) What is the future value of the investment at the end of the year on December 31,2011? (Round your answer to three decimal places.)
$ (blank) billion
Please fill in the blanks and state answers clearly
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