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How much money will the account contain after given years

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Reference no: EM131567993

Question: A person deposits $1000 in an account that yields 9% interest compounded annually.

a) Set up a recurrence relation for the amount in the account at the end of n years.

b) Find an explicit formula for the amount in the account at the end of n years.

c) How much money will the account contain after 100 years?

Reference no: EM131567993

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