SOLUTION: PLEASSEEE HELPPP !!! You are deposing $20 each month in a credit union savings club account. The interest rate is 0.4% per month or 4.8% annually. The balance at the beginning of

Question 915336: PLEASSEEE HELPPP !!!
You are deposing $20 each month in a credit union savings club account. The interest rate is 0.4% per month or 4.8% annually. The balance at the beginning of the nth month can be given by the following recursive function.
U1=20
Un=20+(1.004)Un-1
Find the balance at the beginning of the 5th month.

Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

Geometric

= $20.32
20, 20.08, 20.16, 20.24,20.32, ... }
Each term the beginning of that month
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