Create a model to represent the monthly unpaid balance un, Financial Management

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Create a model to represent the monthly unpaid balance un

Suppose that someone always carries an unpaid balance on a certain credit card. Each month the credit card company charges 1% interest on unpaid balance, and the person pays off 10% of that previous balance. Also during each month another exist200 is charged on the credit card.

(a) Create a model to represent the monthly unpaid balance U_n.

(b) What level will the unpaid balance gradually approach?

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