Question
OK I understand the concept present value but I don't understand how to solve for present value in this context:
Assume that you won a local contest for which you gain a continuous income stream at a rate R(t)=5000e^0.1t per year for 5 years and r=0.05. Find present value.
Can anyone help?
Assume that you won a local contest for which you gain a continuous income stream at a rate R(t)=5000e^0.1t per year for 5 years and r=0.05. Find present value.
Can anyone help?