A company has profits of $37,369 this year and expects profits to decrease by $1,175 dollars per year over the next 11 years. If the profits will be continuously invested in an account bearing 6.9% APR compounded continuously, what is the 11-year present value of this income stream? Round your answer to two decimal places.

          A company has profits of $37,369 this year and expects profits to decrease by $1,175 dollars per year over the next 11 years. If the profits will be continuously invested in an account bearing 6.9% APR compounded continuously, what is the 11-year present value of this income stream?

Round your answer to two decimal places.

A company has profits of 37,369 this year and expects profits to decrease by1,175 dollars per year over the next 11 years. If the profits will be continuously invested in an account bearing 6.9% APR compounded continuously, what is the 11-year present value of this income stream?

Round your answer to two decimal places.

Added by Cynthia J.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Danielle Fairburn

03/01/2024

Step 1

We can calculate the annual profits for each year by subtracting $1,175 from the previous year's profits. Year 1: $37,369 Year 2: $37,369 - $1,175 = $36,194 Year 3: $36,194 - $1,175 = $35,019 Year 4: $35,019 - $1,175 = $33,844 Year 5: $33,844 - $1,175 = Show more…

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A company has profits of $37,369 this year and expects profits to decrease by $1,175 dollars per year over the next 11 years. If the profits will be continuously invested in an account bearing 6.9% APR compounded continuously, what is the 11-year present value of this income stream? Round your answer to two decimal places. A company has profits of $37,369 this year and expects profits to decrease by $1,175 dollars per year over the next 11 years. If the profits will be continuously invested in an account bearing 6.9% APR compounded continuously,what is the 11-year present value of this income stream? Round your answer to two decimal places