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September 2, 2015

Homework Help: differential equation

Posted by deq on Monday, February 25, 2013 at 2:19am.

If P(t) is the amount of dollars in a savings bank account that pays a yearly interest rate of r% compounded continuously ,then dP/dt=(r/100)(P) , t in years . Assume the interest is 5% annually ,P(0)=$1000 ,and no monies are withdrawn a)how much will be in the account after 2 years ? b)when will the account reach $4000? c)if $1000 is added to the account every 12 months, how much will be in the account after 3.1/2 year ?

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