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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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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