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Business, 28.08.2019 17:00 ibin246

Your grandparents have an annuity. the value of the annuity increases each month by an automatic deposit of 1% interest on the previous month's balance. your grandparents withdraw $1000 at the beginning of each month for living expenses. currently, they have $50,000 in the annuity. model the annuity with a dynamical system. will the annuity run out of money? when? hint: what value will an have when the annuity is depleted?

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