Question: Find the indicated quantities for the appropriate arithmetic sequence. A person has a $5000 balance due on a credit card account that charges 1% interest

Find the indicated quantities for the appropriate arithmetic sequence.

A person has a $5000 balance due on a credit card account that charges 1% interest per month on the unpaid balance B_n. Assuming no extra charges, if $250 is paid each month, find

(a) a recursion formula [similar to Eq. (19.1)] for B_n and

(b) B_n after two months.

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