Question

Write a recursive rule that describes the rent after ‘n’ years.

Answer 1

`C(n)=C(n-1)+(C(n-1)*0.03),\forall\:n>1`

1) A Recursive formula always makes reference to the previous item. So, let's begin with the first value for the rent $62,000. This is the first term of this sequence, if we think of it as a sequence

2) So, we can write out the following:

`\begin{gathered} C(n)=C(n-1)+(C_n*0.03),n>1 \\ C(1)=62000 \\ Let^(\prime)s\:test\:it: \\ C(2)=62000+(62,000*0.03)=63860 \\ C(3)=63860+(63860*0.03)^=65775.8 \end{gathered}`

Note that this recursive formula it's only valid when n is greater than 1. And each subsequent year gets a raise over the current rent.