Your grandparents have an annuity. The value of the annuity increases each month as 1% interest on the previous month’s balance is deposited. Your grandparents withdraw $1000 each month for living expenses. Currently, they have $50,000 in the annuity. Model the annuity with a dynamical system. Find the equilibrium value. What does the equilibrium value represent for this problem? Build a numerical solution to determine when the annuity is depleted.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.