Suppose that P, is invested in a savings account in which interest is compounded continuously at 5.2% per year. That is, the balance P grows at the rate given by P = .052 P(t) dt a) Find the function P(t) that satisfies the equation. b) Suppose that $1200 is invested. What is the balance after 4 years? c) When will an investment of $1800 double itself?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Suppose that P, is invested in a savings account in which interest
is compounded continuously at 5.2% per year. That is, the balance
P grows at the rate given by P = .052 P(t)
dt
a) Find the function P(t) that satisfies the equation.
b) Suppose that $1200 is invested. What is the
balance after 4 years?
c) When will an investment of $1800 double itself?
Transcribed Image Text:Suppose that P, is invested in a savings account in which interest is compounded continuously at 5.2% per year. That is, the balance P grows at the rate given by P = .052 P(t) dt a) Find the function P(t) that satisfies the equation. b) Suppose that $1200 is invested. What is the balance after 4 years? c) When will an investment of $1800 double itself?
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Step 1: Introduction of the given problem

The balance P grows at the rate given by 

fraction numerator d P over denominator d t end fraction=0.052 p(t)

The details solution of this problem is given below.

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