Mathematics, 25.01.2021 21:00, LHNSHS146
Suppose you want to start saving for retirement. You decide to continuously invest $20000 of your income each year in a risk-free investment with a 7% yearly interest rate, compounded continuously.
If yy is the value of the investment, and tt is in years:
dydt=dydt=
Your answer should be in terms of yy.
You start investing at t=0t=0 so y(0)=0y(0)=0.
y(t)=y(t)=
What is the size of your investment after 30 years.
Answers: 1
![\frac{dy}{20000+0.07 y}=dt\\\\\frac{1}{0.07}|n(\frac{0.07y+20000}{20000})=t\\\\\frac{0.07y}{20000}+1=e^{0.07t}\\\\y=7.1428\times 10^4[e^{0.07t} -1]\\\\y=\frac{20000}{0.07}[e^{0.07t}-1]\\\\](/tpl/images/1063/0708/b3dcf.png)
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