Assuming an interest rate of 3% compounded continuously, (a) Find the future value in 10
Chapter 6, Problem 4(choose chapter or problem)
Assuming an interest rate of 3% compounded continuously, (a) Find the future value in 10 years of a payment of $10,000 made today. (b) Find the future value of an income stream of $1000 per year over 10 years. (c) Which is larger, the future value from the lump sum in part (a) or from the income stream in part (b)? Explain why this makes sense financially.
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