Concept explainers
(a)
Write a recursive formula for the balance in the account at the end of each year.
(a)
Answer to Problem 32PPS
The recursive formula:
Explanation of Solution
Given:
Mr. Edwards and his company deposit $20,000 into his retirement account at the end of each year. The account earns 8% interest before each deposit.
Write a recursive formula for the balance in the account at the end of each year.
Concept Used:
The recursive formula according to the condition given in the account is
Calculation:
Thus, the recursive formula:
(b)
Determine how much is in the account at the end of each of the first 8 years.
(b)
Answer to Problem 32PPS
Explanation of Solution
Given:
Mr. Edwards and his company deposit $20,000 into his retirement account at the end of each year. The account earns 8% interest before each deposit.
Determine how much is in the account at the end of each of the first 8 years.
Concept Used:
The recursive formula:
Calculation:
The amount in the account at the end of each of the first 8 years
Thus, the amount in the account at the end of each of the first 8 years is
Chapter 10 Solutions
Glencoe Algebra 2 Student Edition C2014
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