To state: The recursive rule for the balance
The recursive rule is
Given information:
Gladys owes $ 2000 to a credit card company that charges interest at a rate of 1.4 % per month. At the end of each month she makes a payment of $ 100.
Explanation:
Initially the balance was $2000. Then
Gladys makes a payment of $ 100 at the end of each month.
Then the balance after a month is:
It can be expressed as:
Then the balance after two month is:
The balance after n months given by:
The recursive rule for the balance after n months is given by:
Chapter 7 Solutions
Holt Mcdougal Larson Algebra 2: Student Edition 2012
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