Question

A bank pays you equation interest per year. In addition, you receive Rs. 100 as bonus at the end of the year (after the interest is paid). Find a recurrence for the amount of money after n years if you invest Rs. 2000. 

20 Jan 2026
Answer :
Word Count : 129
Let (A_n) denote the amount of money after (n) years, with an initial investment of Rs. 2000. At the end of each year, the bank first pays interest at the rate of (4.5%), and then adds a fixed bonus of Rs. 100. The interest earned in one year on an
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