A bank offers 3.25% interest compounded yearly. Suppose you deposit $ 100. (a) Set up a linear

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A bank offers 3.25% interest compounded yearly. Suppose you deposit $ 100.
(a) Set up a linear iterative equation to represent your bank balance.
(b) How much money do you have after 10 years?
(c) What if the interest is compounded monthly?

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Applied Linear Algebra

ISBN: 978-0131473829

1st edition

Authors: Peter J. Olver, Cheri Shakiban

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Question Posted: Jun 18, 2016 08:56 AM

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A bank offers 3.25% interest compounded yearly. Suppose you deposit $ 100. (a) Set up a linear

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a u k1 10325 u k u 0 100 where u k represents the ...View the full answer

Applied Linear Algebra

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