Help would be appreciated.
A certain bank account contains money you have saved to pay for living expenses during retirement. It starts out with 80,000 dollars, and it earns 3.4 percent annual interest compounded continuously. To pay for your living expenses you plan to take out 14800 dollars every year, which we will assume (for simplicity) is done continuously over the course of each year. If A(t) denotes the amount of money in the account after t years, write down a differential equation satisfied by A(t).

Question

Help would be appreciated. 
A certain bank account contains money you have saved to pay for living expenses during retirement. It starts out with 80,000 dollars, and it earns 3.4 percent annual interest compounded continuously. To pay for your living expenses you plan to take out 14800 dollars every year, which we will assume (for simplicity) is done continuously over the course of each year. If A(t) denotes the amount of money in the account after t years, write down a differential equation satisfied by A(t).

wolf1728 · Answer

You can find a calculator for annuity payouts here http://www.1728.org/annupay.htm The annuity payout formula can be found here: http://www.1728.org/annupay2.htm I hope that helps you.