12. A person opens a savings account with initial deposit of R. 1500 and subsequently deposits R 60 per week. Assume that the bank pays 4 percent interest compounded continuously (i) Construct a mathematical model in the form of a differential equation. (ii) Find an expression for the amount in the savings account at time, t. (iii) Find the amount in the account at the end of second and third year.
12. A person opens a savings account with initial deposit of R. 1500 and subsequently deposits R 60 per week. Assume that the bank pays 4 percent interest compounded continuously (i) Construct a mathematical model in the form of a differential equation. (ii) Find an expression for the amount in the savings account at time, t. (iii) Find the amount in the account at the end of second and third year.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Transcribed Image Text:12. A person opens a savings account with initial deposit of R. 1500 and subsequently deposits
R 60 per week. Assume that the bank pays 4 percent interest compounded continuously
(i) Construct a mathematical model in the form of a differential equation.
(ii) Find an expression for the amount in the savings account at time, t.
(iii) Find the amount in the account at the end of second and third year.
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