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Question
Find the future value of an income stream of $2000 per year, deposited into an account paying 2% interest per year, compounded continuously, over a 15-year period.
Solution
VerifiedAnswered 4 months ago
Answered 4 months ago
Step 1
1 of 2The deposit of has a time period of years to earn interest and
Future Value of Money deposited inn interval
Summing all over subintervals
As the length of the subdivisions tend towards zero
In other words
Now calculating future value
The future value of income stream is
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