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Page 4 of 4. Money is invested at 8% interest compounded continuously. If deposits are made continuously at the rate of $2,000 per year, find
Page 4 of 4. Money is invested at 8% interest compounded continuously. If deposits are made continuously at the rate of $2,000 per year, find the size of the initial investment needed to reach $1 million in 20 years. Here, interest is cared at the rate of 8% and additional deposits are assumed to be made on a continuous basis. Let the deposit rate be Sd per year and the amount A (0) be the account after t years. Eind the diferential equation that satisfics these conditions, then solve the problem and
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