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Build and compare linear financial models

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A community group's reserve starts with $18,000. It earns simple interest at 5% per year, with no deposits or withdrawals. Let V_n be its balance in dollars after n complete years

(a)1 mark

Write the complete recurrence, including the initial value

Format: Use V(n) or subscripts. For a recurrence, separate the initial value and next-term equation with ;. Use no $ signs or thousands commas
(b)1 mark

Write an explicit rule for V_n directly in terms of n

Format: Use V(n) or subscripts. For a recurrence, separate the initial value and next-term equation with ;. Use no $ signs or thousands commas