The difference equation computing y n from y n − 1 when $ 1000 are deposited into a savings account paying 3 % interest compounded annually and at the end of each year, $ 150 is added to the account. The value of y n is the amount after n years.

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Chapter 12.1, Problem 18E

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To calculate: The difference equation computing yn from yn−1 when $1000 are deposited into a savings account paying 3% interest compounded annually and at the end of each year, $150 is added to the account. The value of yn is the amount after n years.

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