Fred opens an account with $2500. Each month, the balance in Fred’s bank account earns interest so that his new balance is 1.003 times the previous balance. Additionally, he is able to save $90 per month and add it to his balance. a.Write a recursive formula to represent her balance at then end of n months. b. Write an explicit formula to represent her balance at the end of n months. c. What is her balance at the end of 36 months?
Fred opens an account with $2500. Each month, the balance in Fred’s bank account earns interest so that his new balance is 1.003 times the previous balance. Additionally, he is able to save $90 per month and add it to his balance. a.Write a recursive formula to represent her balance at then end of n months. b. Write an explicit formula to represent her balance at the end of n months. c. What is her balance at the end of 36 months?
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
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Chapter6: Polynomials
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Fred opens an account with $2500. Each month, the balance in Fred’s bank account earns interest so
that his new balance is 1.003 times the previous balance. Additionally, he is able to save $90 per month
and add it to his balance.
a.Write a recursive formula to represent her balance at then end of n months.
b. Write an explicit formula to represent her balance at the end of n months.
c. What is her balance at the end of 36 months?
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