Concept explainers
Investment Let A he the amount in a fund earning interest for t years at an annual interest rate of r (in decimal form), compounded continuously. If a continuous cash flow of P dollars per year is withdrawn from the fund, then the rate of decrease of A is given by the differential equation
(a) Solve the differential equation for A as a function of t.
(b) Use the result from part (a) to find A when
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