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An initial deposit of $18,000 is made into an account that earns 2.4% compounded continuously. Money is then withdrawn at a constant rate of $1,500 a year until the amount in the account is 0. Find the amount in the account at any time t. When is the amount 0? What is the total amount withdrawn from the account? The amount A in the account at any time t must satisfy the following A(0)= (Type an equation. Do not include the $ symbol in your answer.)

An initial deposit of $18,000 is made into an account that earns 2.4% compounded continuously. Money is then withdrawn at a constant rate of $1,500 a year until the amount in the account is 0. Find the amount in the account at any time t. When is the amount 0? What is the total amount withdrawn from the account? The amount A in the account at any time t must satisfy the following A(0)= (Type an equation. Do not include the $ symbol in your answer.)

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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An initial deposit of $18,000 is made into an account that earns 2.4% compounded continuously. Money is then withdrawn at a constant rate of $1,500 a year until the amount in the account is 0. Find the amount in the account at any time t. When is the amount 0? What is the total amount withdrawn from the account? The amount A in the account at any time I must satisfy the following. A(0)- (Type an equation. Do not include the $ symbol in your answer.)
Transcribed Image Text:An initial deposit of $18,000 is made into an account that earns 2.4% compounded continuously. Money is then withdrawn at a constant rate of $1,500 a year until the amount in the account is 0. Find the amount in the account at any time t. When is the amount 0? What is the total amount withdrawn from the account? The amount A in the account at any time I must satisfy the following. A(0)- (Type an equation. Do not include the $ symbol in your answer.)
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