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    Applied Calculus
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    Exam 9: Mathematical Modeling Using Differential Equations
  5. Question
    A Company Earns a Continuous Annual Rate of 11% of Its
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A Company Earns a Continuous Annual Rate of 11% of Its

Question 32

Question 32

Short Answer

A company earns a continuous annual rate of 11% of its net worth. At the same time, it has expenses of 6.2 million dollars per year. If the company's net worth at time t = 0 is 50 million, how many years will it take to go bankrupt? Round to the nearest year.

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