Posted by Hester on Thursday, July 12, 2012 at 1:03am.
Let B(n) equal tha balance after n years.
Since the balance increases 10% per year,
B(n) = 20,000*(1.1)^n
Check: At the end of 4 years B(4) is
20,000*1.1^4 = 29,282
At the end of 10 years, the balance is B(10) = 51,874.85
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