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You begin on 1 January 2015 by making an initial deposit of $5,000 to open a savings account at Bank of Mason. This account pays 0.135% interest per month. Every even-numbered month, you withdraw $500 to pay your tuition installment balance. At the end of December each year you receive a $2,000 end-of-year bonus from your employer which you deposit into your account. Run your simulation until your account balance goes negative.1: During what month does your account balance go negative after making the withdrawal?2: Prepare a plot showing your account for all months

Respuesta :

jepessoa

Answer:

Since there is not enough room here, I prepared an excel spreadsheet.

1: During what month does your account balance go negative after making the withdrawal?

The account will have a negative value on October 1, 2018 (46th month)

2: Prepare a plot showing your account for all months

also included in the attached file

attached file: savings account simulation

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