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?
Jinnie
- unanswered
- 299 views
- Pro Bono
Related Questions
- Combinatorics Questions: Card Pairs, Letter Arrangements, and Number Sequences
- Let A be an uncountable set, B a countable subset of A, and C the complement of B in A. Prove that there exists a one-to-one correspondence between A and C.
- Subsets and Sigma Algebras: Proving the Equality of Generated Sigma Algebras
- Let $(X, ||\cdot||)$ be a normed space. Let $\{x_n\}$ and $\{y_n\}$ be two Cauchy sequences in X. Show that the seqience Show that the sequence $λ_n = ||x_n − y_n|| $ converges.
- Markov Process Problem
- Induction proof for an algorithm. Introductory level discrete math course. See attachment for details
- Find the adjacency matrix of the intersection of W4 and K5. What is the degree of vertexes in W4 K5.
- Related to Real Analysis
Questions at this level should come with a bounty.