91Ó°ÊÓ

#Step 2: Express s\(_{\overline{10|}}\) with the given function \(\delta_t\)# #tag_title#Express s\(_{\overline{10|}}\) with the given function \(\delta_t\)# #tag_content#We need to sum up the present values of the cash flows from time 0 to time 10 with a discount rate of \(\delta_t\). Using the given function, \(\delta_{t}=\frac{1}{20-t}\), we can express \(s$$_{\overline{10|}}\) as: \[s_{\overline{10|}}=\sum_{t=0}^{10}\delta_t=\sum_{t=0}^{10}\frac{1}{20-t}\] #Step 3: Evaluate the sum# #tag_title#Evaluate the sum# #tag_content#Now we can evaluate the sum by plugging in the values of \(t\) from 0 to 10: \[s_{\overline{10|}}=\frac{1}{20}+\frac{1}{19}+\frac{1}{18}+\frac{1}{17}+\frac{1}{16}+\frac{1}{15}+\frac{1}{14}+\frac{1}{13}+\frac{1}{12}+\frac{1}{11}+\frac{1}{10}\] #Step 4: Simplify and calculate s\(_{\overline{10|}}\)# #tag_title#Simplify and calculate s\(_{\overline{10|}}\)# #tag_content#After evaluating the sum, we can simplify and calculate the value of \(s$$_{\overline{10|}}\) as: \[s_{\overline{10|}}\approx 2.932\] So the present value of the series of cash flows, \(s$$_{\overline{10|}}\), is approximately 2.932.