Let y(t) represent your retirement accountbalance, in dollars, after t years. Each year theaccount earns 5% interest, and you deposit 10% ofyour annual income. Your current annual incomeis $36000, but it is growing at a continuous rateof 2% per year.Write the differential equation modeling thissituation.dy%3Ddt

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Answered: Write the differential equation…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...

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Write the differential equation modeling this situation. dy dt