Suppose that you discover in your attic an overdue library book on which your grandfather owed a fine of 30 cents 100 years ago. if an overdue fine grows exponentially at a 5% annual rate compounded continuously, how much would you have to pay if you returned the book today? (hint: if a(t) is the balance at the time t, then , where r is the interest rate expressed as a decimal, not in the percentage form).

In its first year of operations, crane company recognized $31,700 in service revenue, $7,700 of which was on account and still outstanding at year-end. the remaining $24,000 was received in cash from customers. the company incurred operating expenses of $16,600. of these expenses, $12,690 were paid in cash; $3,910 was still owed on account at year-end. in addition, crane prepaid $3,260 for insurance coverage that would not be used until the second year of operations.

Last year, western corporation had sales of $5 million, cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. the firm received $40,000 in dividend income and paid $200,000 in interest on loans. also, western sold stock during the year, receiving a $40,000 gain on stock owned 6 years, but losing $60,000 on stock owned 4 years. what is the firm's tax liability?

If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?