Suppose that I wish to open a new savings account. The account accrues 5% interest per year compounded monthly and $15 in fees are deducted each month. I have an initial deposit of $10,000 dollars. (a) Write the difference equation for this account. (b) Sketch a graph of this difference equation. (c) Which of the following describe your graph: constant, monotonic, oscil- lating, asymptotic, unbounded? (d) Write the solution to the difference equation from (a). (e) Given that I do not withdraw or deposit any money, how much will I have after two years?

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