Lecture 12 Presentation and Example

Lecture 12 Presentation and Example - Compound Interest:...

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Click to edit Master subtitle style Compound Interest: Example of Numerical Solution to 1st Order ODE Prof. Dragan Djurdjanovic ME 218 Fall 2008 11
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Recapitulation: Euler’s Method 22
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Recapitulation: Heun’s Method Equivalent to Taylor Series Expansion up to (and including) 2nd order terms (involves numerical approximations of 2nd order derivatives) 33
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4th Order Runge-Kutta (RK) Method Equivalent to Taylor Series Expansion up to (and including) 4th order terms (involves numerical approximations of 4th order derivatives) 44
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The Problem n A sum of P= $5,000 (P) is deposited in a bank n The bank pays an interest of r = 5% per annum. n Assume that additional funds are deposited continuously at the rate of c = $1,000 per annum n What is the value of the investment at the end of k = 10 years, assuming that the interest is compounded continuously ? 55
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The Differential Equation n Let the value of the investment at time ‘t’ be X. n
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This note was uploaded on 06/23/2011 for the course ME 218 taught by Professor Unknown during the Fall '08 term at University of Texas at Austin.

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Lecture 12 Presentation and Example - Compound Interest:...

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