A deposit of $100 is made in an account at the beginning of each month at an annual interest rate of 3% compounded monthly. The balance in the account after n months is An = 100(401)[(1.0025)n − 1]. (a) Compute the first six terms of the sequence {An}. (b) Find the balance in the account after 5 years by computing the 60th term of the sequence. (c) Find the balance in the account after 20 years by computing the 240th term of the sequence.

A deposit of $100 is made in an account at the beginning of each month at an annual interest rate of 3% compounded monthly. The balance in the account after n months is A_n = 100(401)[(1.0025)ⁿ − 1]. (a) Compute the first six terms of the sequence {A_n}. (b) Find the balance in the account after 5 years by computing the 60th term of the sequence. (c) Find the balance in the account after 20 years by computing the 240th term of the sequence.