Suppose you deposit $8500 into an savings account earning 5% annual interest compounded continuously. To pay for all your music downloads, each year you withdraw $900 in a continuous way. Let A(t) represent the amount of money in your savings accountt years after your initial deposit. (A) Write the DE model for the time rate of change of money in the account. Also state the initial condition. dA dt A(0) %3D (B) Solve the IVP to find the amount of money in the account as a function of time. A(t) = (C) When will your money run out? t= years

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
icon
Related questions
icon
Concept explainers
Topic Video
Question
Suppose you deposit $8500 into an savings account earning 5% annual interest compounded continuously. To
pay for all your music downloads, each year you withdraw $900 in a continuous way.
Let A(t) represent the amount of money in your savings account t years after your initial deposit.
(A) Write the DE model for the time rate of change of money in the account. Also state the initial
condition.
dA
dt
A(0) =
(B) Solve the IVP to find the amount of money in the account as a function of time.
A(t)
(C) When will your money run out?
t =
years
Transcribed Image Text:Suppose you deposit $8500 into an savings account earning 5% annual interest compounded continuously. To pay for all your music downloads, each year you withdraw $900 in a continuous way. Let A(t) represent the amount of money in your savings account t years after your initial deposit. (A) Write the DE model for the time rate of change of money in the account. Also state the initial condition. dA dt A(0) = (B) Solve the IVP to find the amount of money in the account as a function of time. A(t) (C) When will your money run out? t = years
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage