Write the differential equation modeling this situation. dy dt

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 9T
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Let y(t) represent your retirement account
balance, in dollars, after t years. Each year the
account earns 5% interest, and you deposit 10% of
your annual income. Your current annual income
is $36000, but it is growing at a continuous rate
of 2% per year.
Write the differential equation modeling this
situation.
dy
%3D
dt
Transcribed Image Text:Let y(t) represent your retirement account balance, in dollars, after t years. Each year the account earns 5% interest, and you deposit 10% of your annual income. Your current annual income is $36000, but it is growing at a continuous rate of 2% per year. Write the differential equation modeling this situation. dy %3D dt
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