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?
- unanswered
- 231 views
- Pro Bono
Related Questions
- real analysis
- real analysis
- In how many different ways $n$ persons can seat around a round table?
- Discrete math- Range and preimage of the floor function
- Prove the uniqueness of a sequence using a norm inequality.
- Math and graph representing a competitive struggle between competitors with a fixed number of supporters.
- [Real Analysis] Show that $B$ is countable.
- [Real Analysis] Show that the set $A$ is uncountable. Use this result to show that ${\displaystyle\mathbb {R}}$ is uncountable.
Questions at this level should come with a bounty.