Question

A bank manager writes the exponential function V (n) = 3.38(1.0194) to represent the value, in thousands of dollars, of an account after n years. The domain of this function is the set of whole numbers Which recursive formula also represents the value of the account?

A. V (n) = 3.38. V (n-1);V (1) = 1.0194
B. V (n) = 3.38. V (n - 1);V (0) = 1.0194
C. V (n) = 1.0194. V (n-1);V (1) = 3.38
D. V (n) = 1.0194 .V (n-1); V (0) = 3.38

Answer 1

The recursive formula that represents the value of the account is V(n) = 3.38 * V(n-1), with the initial condition V(0) = 1.0194.

Step-by-step explanation:

The recursive formula that represents the value of the account is:

V(n) = 3.38 * V(n-1)

with the initial condition:

V(0) = 1.0194

This formula calculates the value of the account in thousands of dollars after each year by multiplying the previous year's value by 3.38.