\( \definecolor{colordef}{RGB}{249,49,84} \definecolor{colorprop}{RGB}{18,102,241} \)
You deposit \(\dollar 1\,500\) in a savings account that pays simple interest at a rate of \(4\pourcent\) per year.
Let \(u_n\) be the amount of money in your account after \(n\) years.
  1. Find the explicit formula for \(u_n\).
    \(u_n=\)
  2. What is your amount at year 20?
    dollars