An individual opens a savings account with an initial investment of $500.

The bank offers her an annual interest rate of 9%, which is continuously computed. She decides

to deposit $200 every month.

a) Write an initial value problem that models this investment over time.

b) Solve the IVP.

c) What is the value of the investment in 2 years?

d) After the 2 year mark, she increases her monthly investment to $300. What is the value of the

investment a year later?

Show all your work for full credit; you may use a calculator for this problem.

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