Money in an account earns interest at a continuous rate of 8%per year, and payments are made

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Money in an account earns interest at a continuous rate of 8%per year, and payments are made continuously out of the account at the rate of $5000 a year. The account initially contains $50,000. Write a differential equation for the amount of money in the account, B, in t years. Solve the differential equation. Does the account ever run out of money? If so, when?

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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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Question Posted: Apr 10, 2023 04:15 AM

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Money in an account earns interest at a continuous rate of 8%per year, and payments are made

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Applied Calculus

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