Suppose that the interval 0t3 is divided into

Chapter 6, Problem 61

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Suppose that the interval 0t3 is divided into 1000subintervals of width t.Lett1,t2,...,t1000denote theright endpoints of these subintervals. If we need to esti-mate the sum5000e.1t1t+ 5000e.1t2t++ 5000e.1t1000t,show that this sum is close to 13,000. [Note:Asumsuchasthis would arise if we wanted to compute the present valueof a continuous stream of income of $5000 per year for3 years, with interest compounded continuously at 10%.]

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