Question: 120. Clara decides to start saving for old age: starting on her 20th birthday up to and including her 66th birthday, she will pay 1000

120. Clara decides to start saving for old age: starting on her 20th birthday up to and including her 66th birthday, she will pay 1000 into a savings account yielding 1% compounded interest each year. We are going to find the amount (in E) in her savings account on her 67th birthday. Define An to be the amount (in E) in the account on her (20 + n)th birthday, right before that year's payment is being made. (a) Find a recursive equation with initial condition for the sequence An and solve it. (b) Use the general term for the sequence An to find the amount in the account on the 67th birthday of Clara

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