the amount of interest earned on an account can be represented using the recursive formula (a_{n}=1.02(a_{n…

the amount of interest earned on an account can be represented using the recursive formula (a_{n}=1.02(a_{n - 1})). if (a_{1}=255.00), and (n) represents the number of months the money is invested, what is the balance at the end of each month for the first three months?\n$255.00, $260.10, $265.30\n$255.00, $260.10, $265.20\n$255.00, $256.02, $257.04\n$255.00, $250.00, $245.10

the amount of interest earned on an account can be represented using the recursive formula (a_{n}=1.02(a_{n - 1})). if (a_{1}=255.00), and (n) represents the number of months the money is invested, what is the balance at the end of each month for the first three months?\n$255.00, $260.10, $265.30\n$255.00, $260.10, $265.20\n$255.00, $256.02, $257.04\n$255.00, $250.00, $245.10

Answer

Explanation:

Step1: Identify the first - term

The first - term $a_1 = 255.00$.

Step2: Calculate the second - term

Use the recursive formula $a_n=1.02(a_{n - 1})$. For $n = 2$, $a_2=1.02\times a_1=1.02\times255 = 260.10$.

Step3: Calculate the third - term

For $n = 3$, $a_3=1.02\times a_2=1.02\times260.10 = 265.302\approx265.30$.

Answer:

$255.00, $260.10, $265.30