Solving A = Pet for P, we obtain P=Ae" which is the present value of the amount A due in t years if money earns interest at an annual nominal rate r compounded continuously. For the function P = 6,000 0.04, in how many years will the $6,000 be due in order for its present value to be $4,000? In years, the $6,000 will be due in order for its present value to be $4,000. (Type an integer or decimal rounded to the nearest hundredth as needed.)
Solving A = Pet for P, we obtain P=Ae" which is the present value of the amount A due in t years if money earns interest at an annual nominal rate r compounded continuously. For the function P = 6,000 0.04, in how many years will the $6,000 be due in order for its present value to be $4,000? In years, the $6,000 will be due in order for its present value to be $4,000. (Type an integer or decimal rounded to the nearest hundredth as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 94E
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