A person deposits $20, 000 in a bank that pays 3% per year interest, compounded continuously. The person continuously withdraws from the account at the rate of $150 per year. Find P(t), the value of the account at time t after the initial deposit.
A person deposits $20, 000 in a bank that pays 3% per year interest, compounded continuously. The person continuously withdraws from the account at the rate of $150 per year. Find P(t), the value of the account at time t after the initial deposit.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
Problem 11CT
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