Hi.
I need to solve an assignment, where I need to know the end balance.
The assignment:
I have an account with an interest rate on 5%. A period over 10 years. 1000 dollars to start.
I need to know how to solve the assignment, where the first two years are stagnant, with no interest rate, so the balance after 2 years are still 1000 dollars, but from year 3 to 10, the interest rate will aply.
I need to create a vector, so I can see the balance for each year. How do I solve this??
Thanks in advance.