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# Perpetual annuity Imagine that today you deposit \$B in a ISBN: 9780321570567 2

## Solution for problem 67E Chapter 7.7

Calculus: Early Transcendentals | 1st Edition

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Problem 67E

Perpetual annuity Imagine that today you deposit \$B in a savings account that earns interest at a rate of p% per year compounded continuously (see Section 6.8). The goal is to draw an income of \$I per year from the account forever. The amount of money that must be deposited is , where r =p/100. Suppose you find an account that earns 12% interest annually and you wish to have an income from the account of \$5000 per year. How much must you deposit today?

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SOLUTION Imagine that today you deposit \$B in a savings account that earns interest at a rate of p% per year compounded continuously. The goal is to draw an income of \$I per year from the account

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##### ISBN: 9780321570567

The answer to “Perpetual annuity Imagine that today you deposit \$B in a savings account that earns interest at a rate of p% per year compounded continuously (see Section 6.8). The goal is to draw an income of \$I per year from the account forever. The amount of money that must be deposited is , where r =p/100. Suppose you find an account that earns 12% interest annually and you wish to have an income from the account of \$5000 per year. How much must you deposit today?” is broken down into a number of easy to follow steps, and 85 words. The full step-by-step solution to problem: 67E from chapter: 7.7 was answered by , our top Calculus solution expert on 03/03/17, 03:45PM. Since the solution to 67E from 7.7 chapter was answered, more than 246 students have viewed the full step-by-step answer. This textbook survival guide was created for the textbook: Calculus: Early Transcendentals, edition: 1. This full solution covers the following key subjects: account, today, must, Interest, deposit. This expansive textbook survival guide covers 85 chapters, and 5218 solutions. Calculus: Early Transcendentals was written by and is associated to the ISBN: 9780321570567.

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Perpetual annuity Imagine that today you deposit \$B in a

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