A Savings Account Earns 6% Annual Interest, Compounded Continuously $y ^ { \prime } = 0.06 y - 480 ; y ( 0 ) = 8500 ?$

question 49

True/False

A savings account earns 6% annual interest, compounded continuously. An initial deposit of $8500 is made, and thereafter money is withdrawn continuously at the rate of $480 per year. Does the following accurately represent this situation: $y ^ { \prime } = 0.06 y - 480 ; y ( 0 ) = 8500 ?$

---

Definitions:

Modified Regiment

An adjusted or altered routine, plan, or set of rules, typically for training, work, or dietary purposes, to achieve specific outcomes.

Bean-Based Soup

A type of soup that primarily uses beans as its main ingredient, often combined with vegetables, spices, and sometimes meat.

Sunflower Seeds

Edible seeds from the sunflower plant, often roasted and salted for consumption.

Workaholic

A person who compulsively works excessively hard and long hours beyond what is reasonably expected.