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ICE13B - “How long will the money last?” You begin on 1 January 2015 by making...

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Advance Math

ICE13B - “How long will the money last?” You begin on 1 January2015 by making an initial deposit of $5,000 to open a savingsaccount at Bank of Mason. This account pays 0.135% interest permonth. Every even numbered month, you withdraw $500 to pay yourtuition installment balance. At the end of December each year youreceive a $2,000 end-of-year bonus from your employer which youdeposit into your account. Run your simulation until your accountbalance goes negative. Question 1: During what month does youaccount balance go negative after making the withdrawal? Question2: Prepare a plot showing your account for all months AMatlab code is needed

Answer & Explanation Solved by verified expert
3.7 Ratings (419 Votes)
there would be no such months as the increment s morethan what is being    See Answer
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