Question: Redo Exercise 10.1.10 in the case when the interest is compounded monthly and you deposit $ 10 each month. In Exercise 10.1.10 A bank offers

Redo Exercise 10.1.10 in the case when the interest is compounded monthly and you deposit $ 10 each month.
In Exercise 10.1.10
A bank offers 5% interest compounded yearly. Suppose you deposit $120 in the account each year. Set up an affine iterative equation (10.5) to represent your bank balance. How much money do you have after 10 years? After you retire in 50 years? After 200 years?

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