Solve the problem.Rich deposits $1000 into a savings account paying 4% interest compounded annually. At the end of each year he deposits $200 into the account. Let yn be the amount in the account after n years.(a) Find a difference equation satisfied by yn.(b) Solve the difference equation.(c) How much will he have in the account after 6 years?

What will be an ideal response?


(a)yn = (1.04)yn-1 + 200
(b) yn = -5000 + (6000)(1.04)n
(c) y6 = $2591.91

Mathematics

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A.

B.

C.

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