This month, your friend deposits $400 to save for a vacation. She plans to deposit 10% more each successive month for the next 11 months(The next month balance will be 100%+10%=1.10 of previous month balance). How much will she have saved after the 12 deposits? Write explicit and recursive
formula.
Recursive rule Min-Min-1)
Initial value: M(1)-1
(n-1)
Explicit rule: Min)
The balance after 12 deposits
M(12)-
Don't put in the units. Round the answer as whole number)