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A couple, during their honeymoon, when they are 2 5 years old, decide to save some money by reducing unhealthy food, $ 1 2 per

A couple, during their honeymoon, when they are 25 years old, decide to save some money by reducing unhealthy food, $12 per day, $360 per month. They plan to deposit their monthly saving money $360 into a S&P 500 Indexed Mutual Fund Account which returns 6%(in average) annually that is 0.5% monthly. Let their monthly account balance to be Bn,B0=$360.
Write the first four terms of the sequence {Bn}.
Find the recurrence relation that generates the sequence.
Determine their account balance at their retirement time, 70 years old, B540.
They are planning to keep the account and start withdrawing $5,000 per month, starting the next month after their retirement celebration. Determine for how long their saving in this account will last throughout their retirement.
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