What are the quantities described by all of your variables

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Reference no: EM131936701

An investment account is opened with $3,000 on Jan 1, 2017. The account pays an annual .8% continuously compounded interest rate. Continuous withdrawals are made at a rate of $120 per year.

A $2,000 is made on Jan 1 of 2018 and a $1,000 deposit is made on Jan 1 of 2025. Write an initial value problem to model the situation.

What are the quantities described by all of your variables and what units do they carry? Solve for the value of the account for all positive time.

Reference no: EM131936701

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