document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1068306>Question 1068306</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Discrete Mathematics.\r<BR>\n" );
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document.write( "An amount of $500 is invested in an account paying 1.2% interest compounded annually.<BR>\n" );
document.write( "a. Write a recursive definition for p(n), the amount in the account at the beginning of the nth year.<BR>\n" );
document.write( "b. After how many years will the amount exceed $570? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #683542 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=683542\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> p(n)=500(1+0.012)^(n-1)<BR>\n" );
document.write( "570=500(1.012)^n<BR>\n" );
document.write( "570/500=1.012^n<BR>\n" );
document.write( "1.14=1.012^n<BR>\n" );
document.write( "ln both sides<BR>\n" );
document.write( "then divide both sides by ln 1.012<BR>\n" );
document.write( "n > 10.985 years because wants to know when it will exceed.<BR>\n" );
document.write( " </SPAN>\n" );
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