Question: Question 2 3 ( 7 marks ) Jack inherits $ 2 0 0 0 0 0 and invests it in an account earning interest at

Question 23(7 marks)
Jack inherits $200000 and invests it in an account earning interest at a rate of 0.5% per month. Each month, immediately after the interest has been paid, Jack withdraws $2000.
The amount in the account immediately after the nth withdrawal can be determined using the recurrence relation
An=An-1(1.005)-2000
Where n=1,2,3,q, and A0=200000
(a) Calculate the amount of money in the account immediately after the 70th withdrawal.
Question 2 3 ( 7 marks ) Jack inherits $ 2 0 0 0

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