You didn't specify where you were stuck, so i'll assume its at the first step.
The amount of money at the end of year n is going to be the amount of money at the end of the previous year + dividends received in that year.
A deposit of 50000 O.R.is maid to an investment fund at the beginning of a year.On the last day of each year two dividends are awarded.The first dividend is 20% of the amount in the account during that year. The second dividend is 45% of the amount in the account in the previous year.
(a)Find a recurrence relation for {pn}, where pn is the amount in the account at the end of n years if no money is ever withdrawn.
hope someone can help me, and thanks in advance.