The management of a national chain of fast-food outlets is selling a 12 year franchise in a certain city. Past experience in similar localities suggests that t years from now the franchise will be generating profit at the rate of f(t)=10,600 dollars per year. If the prevailing annual interest rate remains fixed at 3% compounded continuously, what is the present value of the franchise?
round answer to nearest penny $
0 Answers | Be the first to answer
We’ve answered 330,445 questions. We can answer yours, too.Ask a question