SOLUTION: Ricardo deposits $4500 in a trust fund that pays 15% interest at the end of each year. a. Write a recursive rule that describes how the amount of money in Ricardo’s trust fund

SOLUTION: Ricardo deposits $4500 in a trust fund that pays 15% interest at the end of each year. a. Write a recursive rule that describes how the amount of money in Ricardo’s trust fund

Algebra.Com

Question 1179382: Ricardo deposits $4500 in a trust fund that pays 15% interest at the end
of each year.
a. Write a recursive rule that describes how the amount of money in
Ricardo’s trust fund increases over time.
Answer by ikleyn(52830) (Show Source): You can put this solution on YOUR website!
.

The recursive rule is A(n+1) = 1.15*A(n), n= 1, 2, 3, . . . , from year to year.

Solved.

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