Suppose on December 31, 2000, a deposit of $100 is made in asavings account that pays 10% annual interest. So one year afterthe initial deposit, on December 31, 2001, the account will becredited with $10, and have a value of $110. On December 31, 2002that account will be credited with an additional $11, and havevalue $121.
Find a recursive relation that gives the value of the accountn years after the initial deposit.

Question

Suppose on December 31, 2000, a deposit of $100 is made in asavings account that pays 10% annual interest. So one year afterthe initial deposit, on December 31, 2001, the account will becredited with $10, and have a value of $110. On December 31, 2002that account will be credited with an additional $11, and havevalue $121.
Find a recursive relation that gives the value of the accountn years after the initial deposit.

anonymous · Answer

$$a_1=100,a_n=a_{n-1}(1.1)$$ i think might do it

anonymous · Answer

Can you explain a little bit about how you got that formula. I'm really kind of confused with this recursive definition stuff. This homework has really been a challenge...