Explanation Given: Margarita borrows $ 10 , 000 from her uncle and agrees to repay it in monthly installments of $ 200 . Her uncle charges 0.5 % interest per month on the balance. Approach: Relate the amount in n th month to ( n − 1 ) th month using the given information that 0.5 % interest is charged on the amount in ( n − 1 ) th month and then monthly installment of $ 200 is deducted. Calculation: The amount in ( n − 1 ) th month is A n − 1 . Charging 0.5 % interest on this balance the balance becomes: ( 1 + 0.5 / 100 ) A n − 1 = 1 To determine b) To find: The balance after 6 months.

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ISBN: 8220100548512

Author: Watson

Publisher: CENGAGE L

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Chapter 13.1, Problem 80E

To determine

a)

To prove:

The balance An in the n th month is given recursively by A0=10,000 and

An=1.005An−1−200.

To determine

b)

To find:

The balance after 6 months.

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Chapter 13.1, Problem 79E

Chapter 13.1, Problem 81E

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a) To prove: The balance A n in the n th month is given recursively by A 0 = 10 , 000 and A n = 1.005 A n − 1 − 200 .

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a) To prove: The balance An in the n th month is given recursively by A0=10,000 and An=1.005An−1−200.

b) To find: The balance after 6 months.

Want to see the full answer?

Chapter 13 Solutions

a)

To prove:

The balance An in the n th month is given recursively by A0=10,000 and

An=1.005An−1−200.

b)

To find:

The balance after 6 months.