Explanation We already know that P ( t ) ' = r P ( t ) − N = r ( P ( t ) − N r ) . Use this equation to determine the value of C and hence the value of N . Given: April borrows $ 18000 at an interest rate of 5 % to purchase a new automobile. Calculation: The differential equation is given by P ( t ) ' = r P ( t ) − N = r ( P ( t ) − N r ) where r is the interest rate and N is the payment amount, so that here P ( t ) ' = 0.05 ( P ( t ) − N 0.05 ) = > P ( t ) = N 0...

4th Edition

ISBN: 9781319323394

Author: Rogawski

Publisher: MAC HIGHER

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Differential Equations

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Chapter 10.2, Problem 21E

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At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in $5$ years?

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Chapter 10.2, Problem 20E

Chapter 10.2, Problem 22E

Chapter 10 Solutions

CALCULUS W/SAPLING ACCESS >IC<

Ch. 10.1 - Prob. 1PQ Ch. 10.1 - Prob. 2PQ Ch. 10.1 - Prob. 3PQ Ch. 10.1 - Prob. 4PQ Ch. 10.1 - Prob. 1E Ch. 10.1 - Prob. 2E Ch. 10.1 - Prob. 3E Ch. 10.1 - Prob. 4E Ch. 10.1 - Prob. 5E Ch. 10.1 - Prob. 6E

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At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in 5 years?

Solution Summary: The author explains that April borrows 18000 at an interest rate of 5 % to purchase a new automobile.

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At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in $5$ years?

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Chapter 10 Solutions