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Exercises 23 and 24 refer to a difference equation of the
Chapter 4, Problem 24E(choose chapter or problem)
Exercises 23 and 24 refer to a difference equation of the form for suitable constants a and b.At time k = 0, an initial investment of $1000 is made into a savings account that pays 6% interest per year compounded monthly. (The interest rate per month is .005.) Each month after the initial investment, an additional $200 is added to the account. For be the amount in the account at time k, just after a deposit has been made.a. Write a difference equation satisfied by b. [M] Create a table showing k and the total amount in the savings account at month k, for k = 0 through 60. List your program or the keystrokes you used to create the table.c. [M] How much will be in the account after two years (that is, 24 months), four years, and five years? How much of the five-year total is interest?
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QUESTION:
Exercises 23 and 24 refer to a difference equation of the form for suitable constants a and b.At time k = 0, an initial investment of $1000 is made into a savings account that pays 6% interest per year compounded monthly. (The interest rate per month is .005.) Each month after the initial investment, an additional $200 is added to the account. For be the amount in the account at time k, just after a deposit has been made.a. Write a difference equation satisfied by b. [M] Create a table showing k and the total amount in the savings account at month k, for k = 0 through 60. List your program or the keystrokes you used to create the table.c. [M] How much will be in the account after two years (that is, 24 months), four years, and five years? How much of the five-year total is interest?
ANSWER:Solution 24E(a) , (b)payment =200y = 1000m = 0table =01000y =1205table =0 11000 1205y = 1