An Investor Purchased a Piece of Waterfront Property

question 66

Multiple Choice

An investor purchased a piece of waterfront property. Because of the development of a marina in the vicinity, the market value of the property is expected to increase according to the rule where V(t) is measured in dollars and t is the time in years from the present. If the inflation rate is expected to be 9% compounded continuously for the next 8 years, what is P(t) expected to be in 4 years?

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