1. Suppose you deposit P dollars into a savings account at 4.5% interest compounded quarterly and then add $1500 to the account at the end of each quarter. For what value of P will the account contain $73,000 after 4 years?
2. Thirty-one thousand dollars is deposited into a savings account paying 3.9% interest compounded semiannually and $1000 is deposited at the end of each half year. How much money is in the account after 5 years?
Use difference equations to answer the question.