Construct discrete dynamical system for account balance

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Reference no: EM131959657

Suppose that a savings account is opened with an initial deposit of $2000. Also, the account earns an interest that is compounded each month at an interest rate that keeps increasing each month: 0.10%, 0.11%, 0.12%, 0.13%, 0.14%, 0.15%,... For each of the deposit scenarios (a), (b), (c) described below, construct a discrete dynamical system for the account balance each month by writing a single, linear, non-autonomous equation for Pn+1in terms of Pn.

(a) $100 is deposited at the end of every month.

(b) The amounts deposited at the end of subsequent months are: $100, $50, $100, $50, $100,...

Reference no: EM131959657

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