Link recurrence, explicit, tabular and graphical forms
A recurrence model is used for the savings account. Let \(V_n\) be the account balance, in dollars, after \(n\) months. \(V_0\) is the value at index zero
The account balance increases according to the model
The change is a fixed amount at each month
Money values shown in the question are rounded to the nearest cent after the exact recurrence has been evaluated
The displayed table gives the first 7 values
| Period n | account balance ($) |
|---|---|
| 0 | $5,599.92 |
| 1 | $5,718.65 |
| 2 | $5,837.38 |
| 3 | $5,956.11 |
| 4 | $6,074.84 |
| 5 | $6,193.57 |
| 6 | $6,312.30 |