Heuristic Math: Make a Systematic List
How would you interpret this question:
"Ricky opens a bank account with initial deposit of 2000 dollars. For every month, with maintaining balance of 5000 dollars or more, an interest of 2.5% will be added. An additional 1.2% for every 2000 dollars if exceeds to the maintaining balance. For the first 3 months, he maintained the required minimum balance to obtain the interest every month. The following months he deposited 1500 dollars every month. How many months required to have an outstanding balance of $18526?
*round off your answers to nearest one (truncate the decimal values)"
I've gotten the following answers:
10 Months - $18,458
9 Months - $19,456
10 Months - $18,756
Still, I think my answers are not correct. How do you guys understand the question and what is/are your answer/s?
"Ricky opens a bank account with initial deposit of 2000 dollars. For every month, with maintaining balance of 5000 dollars or more, an interest of 2.5% will be added. An additional 1.2% for every 2000 dollars if exceeds to the maintaining balance. For the first 3 months, he maintained the required minimum balance to obtain the interest every month. The following months he deposited 1500 dollars every month. How many months required to have an outstanding balance of $18526?
*round off your answers to nearest one (truncate the decimal values)"
I've gotten the following answers:
10 Months - $18,458
9 Months - $19,456
10 Months - $18,756
Still, I think my answers are not correct. How do you guys understand the question and what is/are your answer/s?
Jinnie
1
Join Matchmaticians Affiliate Marketing
Program to earn up to a 50% commission on every question that your affiliated users ask or answer.
- unanswered
- 477 views
- Pro Bono
Related Questions
- [Real Analysis] Show that the set $A$ is uncountable. Use this result to show that ${\displaystyle\mathbb {R}}$ is uncountable.
- Show that there is either an increasing sequence or a decreasing sequence of points $x_n$ in A with $lim_{n\rightarrow \infty} x_n=a$.
- Probability/Analysis Question
- Logic Question (𝐴→(𝐵→𝐶))→((𝐴→𝐵)→(𝐴→𝐶))
- Find the chromatic number of Kn, Kn,m, Cn.
- Probability Question
- For each A ∈ { Z, Q, } find the cardinality of the set of all increasing bijective functions f : A → A.
- Problem Help - Matrix/Markov
Questions at this level should come with a bounty.