Solve the difference equation by generating functions

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Reference no: EM131910300

At present, there is $100 000 in a trust fund. The fund earns two % interest per year, but 10% of the fund is given away each year. Also, $10 000 is put into the trust fund per year.

a) Obtain and solve the difference equation by generating functions

b) If the trust fund wants to get to 1 million dollars, how much should be added to the trust fund per year (use any way you can to solve this, but explain)?

Reference no: EM131910300

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