[Solved] A person deposits $1000 in an account that yields 5% interest compounded annually. Set up a recurrence relation for the amount in the account at
Question: A person deposits $1000 in an account that yields 5% interest compounded annually. Set up a recurrence relation for the amount in the account at the end of n years. This problem is similar to P.457 #10 and P.451 Example 3.
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