A deposit of $5000 is made to a bank account paying 1.5% annual interest, compounded continuously. (a)
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A deposit of $5000 is made to a bank account paying 1.5% annual interest, compounded continuously.
(a) Write a differential equation for the balance in the account, B, as a function of time, t, in years.
(b) Solve the differential equation.
(c) How much money is in the account in 10 years?
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a Since interest is earned continuously Rate of ...View the full answer
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Related Book For 
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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