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) About Me  (Show Source):
You can put this solution on YOUR website!
V=10000(1.105)^n