Rowe Carroll
07/08/2024 · High School

A certain small country has \( \$ 10 \) billion in paper currency in dirculation, and each day \( \$ 50 \) million comes into the country's ba amount of new currency (in billions of dollars) in circulation at time \( t \) (in days), with \( x(0)=0 \). (a) Formulate a mathematical model in the form of an initial-value problem that represents the "flow" of the new currency \( x(0)= \) (b) Solve the initial-value problem found in part (a). (c) How long will it take for the new bills to account for \( 90 \% \) of the currency in circulation? (Round your answer to the near years

UpStudy ThothAI Solution

Tutor-Verified Answer

Quick Answer

(a) The initial-value problem is: \[ \begin{cases} \frac{dx}{dt} = 0.05 \\ x(0) = 0 \end{cases} \] (b) The solution is: \[ x(t) = 0.05t \] (c) It will take approximately \( 0 \) years (or about \( 6 \) months) for the new bills to account for \( 90\% \) of the currency in circulation.

Step-by-step Solution

Elevate Your Learning
Unlock full answers and more with UpStudy Premium
Get AI Assistant
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions