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

Algebra ->  Equations -> 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      Log On


   

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) About Me  (Show Source):
You can put this solution on YOUR website!
a%5Bn%5D+=+a%5B1%5D%2Ar%5E%28n-1%29
Geometric
a%5Bn%5D+=+20%2A%281.004%29%5E%28n-1%29
a%5B5%5D+=+20%2A%281.004%29%5E%284%29= $20.32
20, 20.08, 20.16, 20.24,20.32, ... }
Each term the beginning of that month