Explicit formula for the number of albums Pam

1. Pam buys 4 new albums every week. She currently has 50 albums.
   a) Write a recursive formula for the number of albums Pam has.
   b) Write an explicit formula for the number of albums Pam has.
2. A three year old girl is 28 inches tall. She grows 2 inches a year. In how many years will she be 50
   inches?
3. In 2014, ABC College enrolled 100 students. If the enrollment grows 4% per year. Find the
   enrollment number in 2018.
4. Solve 10X = 1000
5. Using 4% simple interest paid annually, how much money would you have after 3 years, if you
   originally had $100. How much interest do you have?
6. You deposit $100 in an account earning 3% compounded annually. How much money will you have
   in 10 years and how much interest will you earn?
7. You deposit $100 in an account earning 3% compounded monthly. How much money will you have
   in 10 years and how much interest will you earn?
8. You have $100,000 saved for retirement. Your account earns 3% interest. How much will you be
   able to pull out each month, if you want to be able to take withdrawals for 20 years?
   MAT1009 Exam 3_v2
9. You deposit $100 each month into an account earning 3% compounded monthly. How much will you
   have in the account in 20 years, and how much money will you put into the account?

Sample Solution