need answer and explanation

2. Jim is opening a retirement account with a bank that will pay him 6% interest compounded monthly He has $40,000 to deposit into the account now and he will make deposits of equal amounts each month He would like to have $800,000 in the account in 25 years. Use the approximation 1.005300 4.46 12 6 pts) (a) Write a difference equation that determines the amount in Jim's aceount after n months. Use the letter D to represent the amount that Jim deposits each month Also, don't forget to write down yo 300 005 (40,000 Oo S (b) Determine how much money Jim should deposit into his account each month to meet his goal pts) 1 08.31 2. Jim is opening a retirement account with a bank that will pay him 6% interest compounded monthly He has $40,000 to deposit into the account now and he will make deposits of equal amounts each month He would like to have $800,000 in the account in 25 years. Use the approximation 1.005300 4.46 12 6 pts) (a) Write a difference equation that determines the amount in Jim's aceount after n months. Use the letter D to represent the amount that Jim deposits each month Also, don't forget to write down yo 300 005 (40,000 Oo S (b) Determine how much money Jim should deposit into his account each month to meet his goal pts) 1 08.31