A continuous annuity with withdrawal rate N = 500 dollars/year and interest rate r = 5 percent is funded by an initial deposit. when will the annuity run out of funds if initial deposit = 7000 dollars. The annuity runs out after approximately ____ years? (answer to nearest whole number) b) which initial deposit yields a constant balance? initial deposit P = how many dollars?????
A continuous annuity with withdrawal rate N = 500 dollars/year and interest rate r = 5 percent is funded by an initial deposit. when will the annuity run out of funds if initial deposit = 7000 dollars. The annuity runs out after approximately ____ years? (answer to nearest whole number) b) which initial deposit yields a constant balance? initial deposit P = how many dollars?????
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A continuous annuity with withdrawal rate N = 500 dollars/year and interest rate r = 5 percent is funded by an initial deposit. when will the annuity run out of funds if initial deposit = 7000 dollars.
The annuity runs out after approximately ____ years? (answer to nearest whole number)
b) which initial deposit yields a constant balance? initial deposit P = how many dollars?????
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