Question: Question 1 The following recurrence relation models a simple interest investment, where V is the value of the investment afternyears: V0= 20 000Vn+1=Vn+500 what is

Question 1

The following recurrence relation models a simple interest investment, where V is the value of the investment afternyears:

V0= 20 000Vn+1=Vn+500

  1. what is the annual rate of this investment?
  2. write down rule for the value of the investment after n years
  3. how many years does it take for the value of the investment to be double the principal

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