Question FM 11/21/2011 03:52

Determine the accumulated value at time 10 years of payments that are received continuously over each year. The payment is $\$105$ during the first year, $\$110$ during the second year, $\$115$ during the third year, and so on, up to the last payment of $\$150$ in year 10. The annual effective interest rate is $6\%$.

Ans : $100\bar{s}_{\bar{10}}+5(\bar{Is})_{\bar{10}}$