Question 5 - 11 marks You should be able to answer this question after studying Unit 10. Sam sets up a savings account with an initial deposit of $1 000 in Your 1. Each year, the bank pays 7% interest on the previous year's balance into the savings account. As an illustration, the account balance in Year 1, 2, and 3 are shown in the table below: Year 1 Year 2 Year 3 1000 1010 + 10.42)(1010) =1020 1020 + 10.02)1020) = 1010.4 (a) Let us denote the account balance in Year n to be r.. Find the values of the first term s) = a and the common ratio r, and write down the Tocurrence system for (3.). 14] (b) Find the closed form for Im. 121 (c) Calculate Sam's account balance in Year 10, up to two decimal places. 121 (d) In what year will the account balance first exceed $1 5007