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Exercise 22

Avg difficulty 2.5

A manager in a communications company contributes $2400 per year into her retirement fund by making many small deposits throughout the year. The fund grows at a rate of 3.5% per year compounded continuously. After 35 years, she retires and begins and begins withdrawing from the retirement fund at a rate of $3500 per month. If she does not make any deposits after she retires, how long will her retirement fund last?

Judson, The ODE Project, §1.5 First-Order Linear Equations, Exercise 22

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Adapted from The ODE Project © 2019–2025 Thomas W. Judson. Licensed under CC BY 4.0. Source: The ODE Project. Imported at revision 7935458.