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Consider that a saving account contains $1000 dollars and earns 6% interest, compounded annually. At the end of each year a $120 dollar withdrawal is
Consider that a saving account contains $1000 dollars and earns 6% interest, compounded annually. At the end of each year a $120 dollar withdrawal is made. a) Determine the difference equation that describes how to compute each year's balance from the previous year's balance. Consider the initial balance is y[0], and the balance after one year is y[1], and so on. b) Using your difference equation use recursion to calculate the balance for the first 6 years. c) Using the delay concept draw the block diagram that represents this difference equation. Consider that a saving account contains $1000 dollars and earns 6% interest, compounded annually. At the end of each year a $120 dollar withdrawal is made. a) Determine the difference equation that describes how to compute each year's balance from the previous year's balance. Consider the initial balance is y[0], and the balance after one year is y[1], and so on. b) Using your difference equation use recursion to calculate the balance for the first 6 years. c) Using the delay concept draw the block diagram that represents this difference equation
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