Find the present value of a continuous stream of income over 4 years when the rate of income is constant at $30,000 per year and the interest rate is 7%. The present value is (Round to the nearest dollar as needed.)
Find the present value of a continuous stream of income over 4 years when the rate of income is constant at $30,000 per year and the interest rate is 7%. The present value is (Round to the nearest dollar as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
Question
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Transcribed Image Text:Find the present value of a continuous stream
of income over 4 years when the rate of
income is constant at $30,000 per year and
the interest rate is 7%.
The present value is
(Round to the
nearest dollar as needed.)
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