Applied Calculus 39(3)

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(1 pt) A bank account earns 3% annual interest compounded continuously. You deposit $48,000 in the account and withdraw money continuously from the account at a rate of $900 per year. (a) Write a differential equation describing the balance B in the account after t years. B' = (b) What is the equilibrium solution to the differential equation? (This is the amount that must be deposited now for the balance to stay the same over the years. Answer: Entering your answer (c) Find the solution to the differential equation. Answer: Entering your answer (d) How much is in the account after 20 years? Answer: Entering your answer
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