Solve the Problem $e ^ { 0.05 t }$ = 10017 Years
B) a = 80,000 - 56,000

question 30

Multiple Choice

Solve the problem.
-An initial deposit of $24,000 is made into an account that earns 5% compounded continuously. Money is then withdrawn at a constant rate of $4000 a year until the amount in the account is 0. Find the equation for the amount in the account at any time t. When is the amount 0?

• A) A = 60,000 - 36,000 \(e ^ { 0.05 t }\) = 10.017 years
• B) A = 80,000 - 56,000 \(\mathrm { e } ^ { 0.05 \mathrm { t } }\)= 8.352 years
• C) A = 80,000 - 56,000 \(e ^ { 0.05 t }\)= 7.134 years
• D) A = 60,000 - 36,000 \(e ^ { 0.05 t }\)= 8.352 years