# Interest rate

20$ each month. interest rate is 0.4% monthly or 4.8% annually. u1=20 un=20+(1.004)^u n-1 find the balance at the beginning of the….

20$ each month. interest rate is 0.4% monthly or 4.8% annually. u1=20 un=20+(1.004)^u n-1 find the balance at the beginning of the 5th month

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