Question

a bank account earns 7% annual interest compounded continuously. you deposit $10,000 in the account, and withdraw money continuously from the account at a rate of $1000 per year.
a. write the differential equation for the balance, B, in the account after t years
b. what is the equilibrium solution to the differential equation?
c. find the solution to the differential equation.
d. how much is in the account after 5 years?
e. graph the solution. what happens to the balance in the long run?

Answer 1

How long