Financial math question......................…?
Assume that δ(t) = 1/[10(1+t)^3] and A(0) = 100. Find the amount of interest earned in the fifth year.
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Assume that δ(t) = 1/[10(1+t)^3] and A(0) = 100. Find the amount of interest earned in the fifth year.
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Verified answer
serena
A(t) = 100 a(t) , where a(t) = e^ ( ∫ δ du )
So, if you integrate from 0 to 5 then subtract 0 to 4, the interest is 0.0641357
hope that helps