Four thousand dollars is deposited in a savings account at 3.5% yearly interest compounded continuously. (a) What
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Four thousand dollars is deposited in a savings account at 3.5% yearly interest compounded continuously.
(a) What is the formula for A(t), the balance after t years?
(b) What differential equation is satisfied by A(t), the balance after t years?
(c) How much money will be in the account after 2 years?
(d) When will the balance reach $5000?
(e) How fast is the balance growing when it reaches $5000?
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Related Book For 
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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