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
- 310 views
- Pro Bono
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Questions at this level should come with a bounty.