Helga invests £4000 in a savings account.
After \(t\) days, her investment is worth \(£y\).
The rate of increase of \(y\) is \(ky\), where \(k\) is a constant.
- Write down a differential equation in terms of \(t\), \(y\) and \(k\). [1]
- Solve your differential equation to find the value of Helga's investment after \(t\) days. Give your answer in terms of \(k\) and \(t\). [4]
It is given that \(k = \frac{r}{365}\ln\left(1 + \frac{r}{100}\right)\) where \(r\%\) is the rate of interest per annum.
During the first year the rate of interest is 6% per annum.
- Find the value of Helga's investment after 90 days. [2]
After one year (365 days), the rate of interest drops to 5% per annum.
- Find the total time that it will take for Helga's investment to double in value. [5]