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On her 10th birthday, Rukan's parents invested $2000 into an educational saving plan that pays 5% per year. On each birthday a?e r her 10th
- On her 10th birthday, Rukan's parents invested $2000 into an educational saving plan that pays 5% per year. On each birthday a?e r her 10th (up to her 18th birthday), they invest $2000 more into the savings plan. Let A represent the amount in the investment a?e r each deposit is made on her birthday.
a) Show that the sequence for n=10 to n=18 is given by the recursion formula
A=2000+1.05An-1
b) Use this formula to find d A18
c) How much of this total is interest and how much is money her parents invested?
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