Suppose that you open a savings account by depositing $100. The account earns interest at an annual rate of 3% per year (0.25% per month). At the end of each month, you earn interest on the current balance, and then you deposit $100. Let B_n be the balance at the beginning of the nth month, where B₀ = $100. 

a. Find a recurrence relation for the sequence {B_n}.

b. Find an explicit formula that gives B_n, for n = 0, 1, 2, 3, . . .