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1. An investor deposits $10000 into an account that pays 7% compounded continuously and then begins to withdraw from the account continuously at a rate
1. An investor deposits $10000 into an account that pays 7% compounded continuously and then begins to withdraw from the account continuously at a rate of $1400 per year. (1) Write a differential equation to describe the situation. (2) How much will be left in the account after 2 years? (3) When will the account be completely depleted? 2. An investor deposits $35, 000 into an IRA for her retirement in 25 years. The account pays 3.5% interest compounded continuously. She also plans to deposit $1800 each year into the account in a near-continuous manner for the same amount of time. (1) Write a differential equation to describe the situation. (2) What will be the value of her account after 25 years if she stays true to this plan? 3. An investor transfers $400, 000 into an IRA at age 60. The account pays 3.25% interest compounded continuously. He plans to withdraw $24, 000 each year from the account in a near-continuous manner until the account is depleted. (1) Write a differential equation to describe the situation. (2) How much will be left in the account after 10 years? (3) When will the account be completely depleted
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