An Investor deposits $8,000 into an account that pays 6% continuously and than b

Question

An Investor deposits $8,000 into an account that pays 6% continuously and than begins to withdraw from the account continuously at the rate of $1200 per year. Answers already provided. Needs how to steps!

(a.) Write a differential equation to describe the situation

Answer: dA/dt=.06A-1200

(b.) How much will be left in the account after 2 years?

Answer: $6470.04

(c.) When will the account be completely depleted?

Answer: 8.51 years

So lost! Please show step by step work! The answers I got are from the back of textbook. Please show me how you got the equation and find the answers step by step so I can understand better! :)

Explanation / Answer

The required di

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