Let A(t) be the balance in a savings account after t years, and suppose that A(t) satisfies
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Let A(t) be the balance in a savings account after t years, and suppose that A(t) satisfies the differential equation A′(t) = .045A(t), A(0) = 3000.
(a) How much money was originally deposited in the account?
(b) What interest rate is being earned?
(c) Find the formula for A(t).
(d) What is the balance after 5 years?
(e) Use part (d) and the differential equation to determine how fast the balance is growing after 5 years.
(f) How large will the balance be when it is growing at the rate of $270 per year?
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a 3000 b 045 45 c At 30...View the full answer
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Related Book For 
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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