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Differential EquationsMediumNumerical Methods: Euler to Runge–Kutta

Numerical Methods: Euler to Runge–Kutta · Medium problem

A savings balance grows according to A′=0.03AA' = 0.03A (continuous 3%3\% annual interest), A(0)=800A(0) = 800. Using one step of the classical RK4 method with h=1h = 1 year, estimate the balance after one year, and find the estimated interest earned that year (balance after one year minus the initial $800). Round to the nearest cent.