Question
Hi! I really do not get how to solve this...Money is transferred continuously into an account at the rate of 5, 000^(e0.015t) dollars per year at
time t (years). The account earns interest at the annual rate of 5% compounded continuously.
How much will be in the account at the end of 3 years?
Thank you!
time t (years). The account earns interest at the annual rate of 5% compounded continuously.
How much will be in the account at the end of 3 years?
Thank you!
Answers
dm/dt = 5000 e^(0.15t)
m(t) = 5000/0.15 e^(0.15t) * e^(0.05t) = 100,000/3 e^(0.20t)
m(t) = 5000/0.15 e^(0.15t) * e^(0.05t) = 100,000/3 e^(0.20t)
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