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the7joker7
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Homework Statement
You have a bank account with Y amount of dollars. The interest on it is 5% a year. Every year, you extract 3,350 dollars to pay for college tuition. What is the smallest amount Y can be to allow you to pay for 4 years of college? (Use Calculus Methods)
Homework Equations
General Differential Equation stuff.
The Attempt at a Solution
Now, I believe an appropriate Differential Equation for this problem would be...
dy/dt = 0.05y - 3,350
t will be 4 and y will be 0, ultimately.
In class today, we got to the point where you divide both numbers by 0.05 so you get...
dy/dt = y - 67000
Or something. Now we don't know where to go. Help?