SOLUTION: $10000 is invested in an account earning 10.5% compound interest each year. Right down a recurrence relationship to model the value of the loan, V,, from year to year

SOLUTION: $10000 is invested in an account earning 10.5% compound interest each year. Right down a recurrence relationship to model the value of the loan, V,, from year to year

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Question 1053507: $10000 is invested in an account earning 10.5% compound interest each year.
Right down a recurrence relationship to model the value of the loan, V,, from year to year
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
V=10000(1.105)^n
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