dt = ry + D v

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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Money in a bank account at time t can be modeled by
fip
= ry + D where the constant r is related to the interest rate and the constant D is
the related to regular deposits at a constant rate.
(a) Solve the DE for any initial condition where r = .05 and D = 5000 and t is in
years.
(Side note: this is NOT the same as annual deposits of $5000)
(b) If the initial amount is $0, solve for C.
(c) For the answer in (b) how long will it take to reach $1 million?
Transcribed Image Text:Money in a bank account at time t can be modeled by fip = ry + D where the constant r is related to the interest rate and the constant D is the related to regular deposits at a constant rate. (a) Solve the DE for any initial condition where r = .05 and D = 5000 and t is in years. (Side note: this is NOT the same as annual deposits of $5000) (b) If the initial amount is $0, solve for C. (c) For the answer in (b) how long will it take to reach $1 million?
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