The rate of a continuous money flow starts at $800 and increases exponentially at 3% per year for 5 years. Find the present value and final amount if interest earned is 4% compounded continuously.
a) The present value is?
b) The final amount is?
(Do not round until the final answer. Then round to the nearest cent as needed.)
An exponential growth is e^r, where r is rate of growth and e is 2.718.
Present value is $4251.17
Final Value is $4789.35
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