Simplify to create an equivalent expression.
2 answers:
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Answer:
Step-by-step explanation:
Given that a young person with no initial capital invests k dollars per year at an annual rate of return r. Assume that investments are made continuously and that the return is compounded continuously
a) Amount accumulated at time t
, where r = rate of interest and t = time lapsed
b) Here S = 1,000,000
So 49802.56 dollars to be invested to get 1 million after 40 years
c) k = 2000 per year
I 2000 will be for 40 years, II 2000 for 39 years, ..... Last 2000 for 0 years
i.e. final amount would be
solving we get r = 9.6% approxy