Let P(t) be the balance in your retirement account t years after retirement from which W is the amount withdrawn every year that pays interest at the rate of r percent per year, compounded continuously. After some consideration you will need $50,000 each year to live on after you retire and that you plan on living 30 years after your retirement. Assuming that your retirement account will earn 5% interest while you are taking out %50,000, how much money must be in the retirement account after you retire?
This problem is just worded funny. Can some help me understand what it is saying and help me set it up?