Suppose your bank offers 3% continual annual interest on the balance of your cer- tificate of deposit but you make a continual withdrawal of $300 per year. (a) Write a differential equation giving the balance of your CD at any time t. Let B(t)=balance at time t. (b) Solve this differential equation and give the minimum initial (and only) deposit so that your funds are not depleted over time.
Suppose your bank offers 3% continual annual interest on the balance of your cer- tificate of deposit but you make a continual withdrawal of $300 per year. (a) Write a differential equation giving the balance of your CD at any time t. Let B(t)=balance at time t. (b) Solve this differential equation and give the minimum initial (and only) deposit so that your funds are not depleted over time.
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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![Suppose your bank offers 3% continual annual interest on the balance of your cer-
tificate of deposit but you make a continual withdrawal of $300 per year.
(a) Write a differential equation giving the balance of your CD at any time t. Let
B(t)=balance at time t.
(b) Solve this differential equation and give the minimum initial (and only) deposit
so that your funds are not depleted over time.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4fc7fd14-c633-4c26-b1c0-1453ffe76321%2F97f8f82b-844e-42c4-a283-c2dfaa780408%2F493cub_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose your bank offers 3% continual annual interest on the balance of your cer-
tificate of deposit but you make a continual withdrawal of $300 per year.
(a) Write a differential equation giving the balance of your CD at any time t. Let
B(t)=balance at time t.
(b) Solve this differential equation and give the minimum initial (and only) deposit
so that your funds are not depleted over time.
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