Thirteen-Line Ground Squirrel Savings Bank pays continuously compounded interest of 3% per year. You open an account at this bank with a deposit of $5000. Imme- diately thereafter you start making withdrawals at a steady rate of $600 per year. Find an expression for the account balance at time t in years after the initial deposit. Do you run out of money? If so, when?

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The balance in the savings account can be modeled using the differential equation for continuously c... View the full answer