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Please state all formulas and sketches clearly Question 7 (4 marks) 10.5 A savings account earns 4% per year, compounded continuously. Continuous withdrawals are made
Please state all formulas and sketches clearly
Question 7 (4 marks) 10.5 A savings account earns 4% per year, compounded continuously. Continuous withdrawals are made from the account at $400 per year. Set up a differential equation that is satisfied by the amount f(t) of money in the account at time t. Sketch typical solutions of the differential equation. Interpret your results. Hint: Rate of change of y = Rate at which interest is added Rate at which money is withdrawn. Question 7 (4 marks) 10.5 A savings account earns 4% per year, compounded continuously. Continuous withdrawals are made from the account at $400 per year. Set up a differential equation that is satisfied by the amount f(t) of money in the account at time t. Sketch typical solutions of the differential equation. Interpret your results. Hint: Rate of change of y = Rate at which interest is added Rate at which money is withdrawnStep by Step Solution
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