Model a compound-interest investment or loan with a recurrence relation
Noah puts $46,250 in a term deposit. Interest compounds once per year
The balance follows the recurrence below. The index counts complete years from the start, with the initial balance at index zero
\[V_0 = \$46{,}250\]
\[V_{n+1} = 1.06 \times V_n\]
Assume a fixed annual rate, no fees and no deposits or withdrawals. Retain full precision between periods and round only the requested reported amounts