Concept explainers
a) What is a recurrence re1aon?
b) Find a recurrence relation for the amount of money that will be in an account after n years if $1,000,000 is deposited in an account yielding 9% annually.
(a)
To define:
What recurrence relation is.
Answer to Problem 1RQ
A recurrence relation for a sequence
Explanation of Solution
A recurrence relation for a sequence
For example,
(b)
To find:
recurrence relation.
Answer to Problem 1RQ
Explanation of Solution
Given:
Formula used:
Calculation:
here
Then this amount will be the amount in the interest after
Then interest at
So
Initial
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