Chapter 3 The Integral Applied Calculus 228
This chapter is (c) 2013. It was remixed by David Lippman from Shana Calaway's remix of Contemporary Calculus
by Dale Hoffman. It is licensed under the Creative Commons Attribution license.
Section 8: Differential Equations
A differential equation is an equation involving the derivative of a function. They allow us to
express with a simple equation the relationship between a quantity and it's rate of change.
Example 1
A bank pays 2% interest on its certificate of deposit accounts, but charges a $20 annual fee.
Write an equation for the rate of change of the balance,
.
If the balance
has units of dollars, then
has units of dollars per year. When we think
of what is changing the balance of the account, there are two factors:
1) The interest, which increases the balance, and
2) The fee, which decreases the balance.
Considering the interest, we know each year the balance will increase by 2%, but 2% of what?
Each year that will change, since we earn interest on whatever the current balance is. We can
represent the amount of increase as 2% of the balance:
dollars/year.
The fee already has the units of dollars/year. Since everything now has the same units, we can
put the two together, and create the equation:
The result is an example of a differential equation. Notice this particular equation involves both
the derivative and the original function, and so we can't simplify find
using basic
integration.
Algebraic equations contain constants and variables, and the solutions
of an algebraic equation are typically numbers. For example, x = 3
and x = –2 are solutions of the algebraic equation x
2
= x + 6.
Differential equations contain derivatives or differentials of functions.
Solutions of differential equations are functions. The differential
equation y' = 3x
2
has infinitely many solutions, and two of those
solutions are the functions y = x
3
+ 2 and y = x
3
– 4.
You have already solved lots of differential equations: every time you
found an antiderivative of a function f(x), you solved the differential
equation y' = f(x) to get a solution y. The differential equation
y' = f(x) , however, is just the beginning. Other applications generate
different differential equations, like in the bank balance example
above.