Question Caoimhe opens two bank accounts: a checkings account with balance \( b(t) \) and a savings account with balance \( s(t) \), at time \( \boldsymbol{t} \) (measured in years since opening the accounts). At the same time, Caoimhe deposits 1000 dollars into the checkings account and 500 dollars into the savings account. The bank is paying interest at continuous rate of \( 3 \% \) on the checkings account and \( 7 \% \) on the savings account. Additionally, Caoimhe continuously transfers money from the checkings account to the savings account at the rate of half the balance of the checkings account. Set up a linear system of differential equations of the form \[ \frac{d b}{d t}=c_{1} b+c_{2} s, \frac{d s}{d t}=c_{3} b+c_{4} s \]

ILUDRZ The Asker · Calculus

Transcribed Image Text: Caoimhe opens two bank accounts: a checkings account with balance \( b(t) \) and a savings account with balance \( s(t) \), at time \( \boldsymbol{t} \) (measured in years since opening the accounts). At the same time, Caoimhe deposits 1000 dollars into the checkings account and 500 dollars into the savings account. The bank is paying interest at continuous rate of \( 3 \% \) on the checkings account and \( 7 \% \) on the savings account. Additionally, Caoimhe continuously transfers money from the checkings account to the savings account at the rate of half the balance of the checkings account. Set up a linear system of differential equations of the form \[ \frac{d b}{d t}=c_{1} b+c_{2} s, \frac{d s}{d t}=c_{3} b+c_{4} s \]
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Transcribed Image Text: Caoimhe opens two bank accounts: a checkings account with balance \( b(t) \) and a savings account with balance \( s(t) \), at time \( \boldsymbol{t} \) (measured in years since opening the accounts). At the same time, Caoimhe deposits 1000 dollars into the checkings account and 500 dollars into the savings account. The bank is paying interest at continuous rate of \( 3 \% \) on the checkings account and \( 7 \% \) on the savings account. Additionally, Caoimhe continuously transfers money from the checkings account to the savings account at the rate of half the balance of the checkings account. Set up a linear system of differential equations of the form \[ \frac{d b}{d t}=c_{1} b+c_{2} s, \frac{d s}{d t}=c_{3} b+c_{4} s \]
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【General guidance】The answer provided below has been developed in a clear step by step manner.Step1/2To set up a linear system of differential equations, we need to describe the rates of change of the two balances b(t) and s(t) as a function of time.Let's start with the checking account balance, b( t). The initial deposit of 1000 dollars and continuous interest rate of 3% per year will cause the balance to increase at a rate proportional to the balance itself:db//dt=C1bwhere C1 is the constant of proportionality.Now let's consider the savings account balance, s(t). The initial depostt of 500 dollars and continuous interest rate of 7% per year will cause the balance to increase at a rate proportional to the balance itself:ds//dt=CAswhere C4 is the constant of proportionality.In addition to interest, money is being transferred from the checkings account to the savings account at the rate of half the balance of the checkings account. This means that the rate of change of the savings account balance ... See the full answer