Answer:
Total saving during first 5 years=$137500
Total saving during first year=$17500
Step-by-step explanation:
We are given that
Savings rate
[tex]S(t)=5000(t+3)[/tex]
Total saving during first 5 years is given by
[tex]=\int_{0}^{5}5000(t+3)dt=5000[\frac{t^2}{2}+3t)]^{5}_{0}[/tex]
Total saving during first 5 years=[tex]5000(\frac{25}{2}+3(5))[/tex]=$137500
Total saving during first year=[tex]\int_{0}^{1}5000(t+3)dt[/tex]
Total saving during first year=[tex]5000[(\frac{t^2}{2}+3t)]^{1}_{0}[/tex]
Total saving during first year=[tex]5000(\frac{1}{2}+3)=[/tex]$17500
