A Millionaire Wants to Set Up a Trust for Her $\text { t. }$

question 79

True/False

A millionaire wants to set up a trust for her grandchild. She wants to put a lump sum of money into an account earning 10% interest. She'd like her grandchild to be able to withdraw $100 every month for the rest of the child's life. Write a differential equation satisfied by f(t), the amount of money in the account at time $\text { t. }$ Does the equation, $y ^ { \prime } = 0.1 \mathrm { y } - 100$ , accurately describe this situation?

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