Hey guys,

I need some help with this one here:

Payments are made continuously on a mortgage of original amount P(subzero) dollars at the constant rate of c dollars per month. Let P(t) denote the balance (amount still owed) by the mortgage holder. (For example, r=0.06/12=0.005 if the annual interest rate is 6%).

dP/dt=rP-c

P(0)=P(subzero)

A) Derive the differential equation.

B) Solve the equation and determine the formula for the mortgage balance at timet.C) Use formula found in (B) to compute the monthly payment on an

N-year mortgage.