(4) When interest is compounded continuously the amount of moncy S incrcases at a rate proportional to the amount present at any time: dS/dt = rS where r is the annual rate of interest. %3D (a) Find the amount accrued at the cnd of 5 ycars when AED 5000 is deposited in a savings account drawing 5% annual interest compounded continuously. (6) In how many years will the initial sum deposited be double?
(4) When interest is compounded continuously the amount of moncy S incrcases at a rate proportional to the amount present at any time: dS/dt = rS where r is the annual rate of interest. %3D (a) Find the amount accrued at the cnd of 5 ycars when AED 5000 is deposited in a savings account drawing 5% annual interest compounded continuously. (6) In how many years will the initial sum deposited be double?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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Transcribed Image Text:(4) When interest is compounded continuously the amount of moncy S incrcases at a
rate proportional to the amount present at any time: dS/dt = rS where r is the annual rate
of interest.
(a) Find the amount accrued at the end of 5 ycars when AED 5000 is deposited in a
savings account drawing 5% annual interest compounded continuously.
(b) In how many years will the initial sum deposited be double?
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