Given f(n + 1) = 3f(n) and f(0) = 4, what is f(3)?

$6510

Step-by-step explanation:

First thing that should come to mind is: What is 7% of $7000?

Well, if you don't know how to find a percent of something, this is the formula you use:

7000 x 0.07 = 490.

In the first year, they will receive 490 out of the 7000 they've invested.

7000 - 490 = 6510.

Therefore, the account balance at the end of the first year will be 6510.