Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. calculus
  3. a person starts at time t 0 to pay part of their s

A person starts at time t 0 to pay part of their salary continuously into...

50.1K

Verified Solution

Question

Calculus

image

A person starts at time t 0 to pay part of their salary continuously into an investment fund at a rate of P dollars per year The fund earns interest at a rate r per year compounded continuously The amount of money in the fund after t years M t then satisfies the differential equation dM dt P rM with M 0 0 i Solve the differential equation using the integrating factor method ii If the person can pay in 1 250 each year and the interest rate is 5 how long will it take for the amount of money in the fund to reach 10 000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A (time-homogeneous) Markov chain built on states A and B is depicted in the diagram below....

Advance Math
1.2K views

Into how many parts can n circles divide the plane, maximum and minimum?

Accounting
1.2K views

What are unsecured notes? Why would they carry a relatively high interest rate? What are convertible...

Physics
1.2K views

A 65 g bullet is shot at 400 m/s into a 3 kg block of...

Geometry
1.2K views

Write cos 5 in terms of sine O sin 10 O cos 15 O sin...

Basic Math
1.2K views

Identify the following statement as an example of a descriptive statistic or as anexample of...

Statistics
1.2K views

Body Mass Index of Young Men A set of examples in our textbook assumed that...

Calculus
1.2K views

The average value of f x 1 1 x on 0 2 2 is

Algebra
1.2K views

Use grouping to factor the following cubic polynomial Factor the polynomial completely if possible x...

Finance
1.2K views

Which of the following is NOT a function of the board of directors? Group of...

Finance
1.2K views

7. If an institution buys a stock @$50/share and buy a put option(underlying asset is...

Accounting
1.2K views

Fixed costs normally will not include: a. direct labour b....