Let that at time t = 0 you have at your bank account 10 pounds and you decide that from the next month you are going to deposit 40 pounds. The monthly interest rate is 2%.

(a) How much money are you going to have on your account in 12 months from today.

(b) In how many months are you going to have 6000 pounds?

Using definite solution: Bt+1=(1+r-g)Bt+b