An investment account, which earns interest and has regular deposits, can be modeled by the initial value
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An investment account, which earns interest and has regular deposits, can be modeled by the initial value problem B'(t) = aB + m for t ≥ 0, with B(0) = B0. The constant a reflects the monthly interest rate, m is the rate of monthly deposits, and B0 is the initial balance in the account. Solve the initial value problem with a = 0.005, m = $100/month, and B0 = $100. After how many months does the account have a balance of $7500?
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This firstorder linear equation has general solution ...View the full answer
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Related Book For 
Calculus Early Transcendentals
ISBN: 978-0321947345
2nd edition
Authors: William L. Briggs, Lyle Cochran, Bernard Gillett
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