- #1
annoymage
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Homework Statement
A recent graduate borrowed 19000$ at an annual rate of 5%
to buy a car from a bank. Suppose that it has made an arrangement to pay the bank
r $ per month. Let S(t), measured in $, be the balance due on the loan at ant time
t, measured in years.
Write a differential equation to calculate the amount of loan left to be
paid.
Homework Equations
n/a
The Attempt at a Solution
[tex]\frac{dS}{dt}[/tex] = [tex]\frac{S}{20}[/tex] - 12k
i think this is wrong because something is wrong when i do an explicite solution of S
e[tex]\frac{-t}{20}[/tex]S = 12k(1-e[tex]\frac{-t}{20}[/tex]) + 19000
defenitely something is wrong,
can someone help me how to translate or give some clue the question to
[tex]\frac{dS}{dt}[/tex] form,