Question

Are you invest in a bank account which pays 6% compounded continuously. You withdraw money continuously...

Are you invest in a bank account which pays 6% compounded continuously. You withdraw money continuously at a rate of $4000 per month. Let B be the balance in dollars and T be in time year in years. Suppose you initially start with $3 million.
a) set up a differential equation for the situation. Include the initial condition. Do not solve.
b) find the equilibrium for the differential equation. Is it stable or unstable?

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