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Four thousand dollars is deposited into a savings account at 4.5% interest compounded continuously. (a) What is the formula for A(t), the balance after t
Four thousand dollars is deposited into a savings account at 4.5% 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 6 years?
(d) When will the balance reach $8000?
(e) How fast is the balance growing when it reaches $8000?
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