Question

The balance, 1, n B  in Mr. Smith’s
savings account at the end of a
year is calculated by the equation
  1 1.065 , n n B B   where n B is the
balance at the end of the previous
year. Mr. Smith made a deposit to
open the account 4 years ago. He
has not made any additional deposits
or withdrawals since. The balance
at the end of 2 years was $1,701.34.
What is the balance at the end of
4 years?