Consider a forester who must decide when to cut down a growing tree. Suppose the net value of the tree at any continuous time t is given by f(t) = 10(0.01t^2). Assume also that the (continuous) market interest rate is given by r = 0.04. The present discounted value of the tree owner 10 years after it is planted is ________. (NOTE: Write your first answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands.). Show all steps.
Solution Preview :
This project is based on the subject mathematics. In this given assignment, there is only one problem, which is based on the application of calculus. In this task, we have to find the net value of the tree at any continuous time.