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Analyse balances and graphs of an affine cash-flow model

Question 1 of 8

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The following data describe the community grant fund at the end of each period. Let $V_n$ be the fund balance in dollars after $n$ periods. $V_0$ is before the first interest calculation and cash flow

The recurrence relation is

V_0=165000,\qquad V_{n+1}=\frac{11}{10}V_n-\frac{1650223}{100}

Use the exact recurrence for the calculations. Displayed money values are rounded to the nearest cent only at the point where they are shown

2 marks

Calculate the missing balances for the listed periods

Money values are rounded to the nearest cent after the exact recurrence is evaluated
Period n	fund balance ($)
0	$165,000
1	?
2	?

$V_{1}$ at period 1 $V_{2}$ at period 2