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anonymous

  • 5 years ago

A customer purchased items costing $360 with a national credit card that charges 1.5% interest per month compounded monthly. a. Write a recurrence relation and initial conditions for bn, the balance after n months if no further charges occur and the minimum monthly payment of $25 is made. b. Find a general solution of the recurrence relation and the solution for this discrete dynamical system. c. Give the value of the account after 12 months, i.e., b(12).

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  1. anonymous
    • 5 years ago
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    This is actually pretty similar to one I worked out here

  2. anonymous
    • 5 years ago
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    http://openstudy.com/groups/mathematics#/groups/mathematics/updates/4dcaeded40ec8b0b25081117

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spraguer (Moderator)
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