You begin on 1 January 2015 by making an initial deposit of $7,200.00 to open a savings account at Bank of Mason. This account pays 0.4200% interest per month. Every even-numbered month, you withdraw $600.00 to pay your tuition installment balance. At the end of December each year you receive a $1,500.00 end-of-year bonus from your employer, which you deposit into your account. Run your simulation until your account balance is no longer positive. Question 1: During what month does your account balance hit zero or go negative? Question 2: Prepare a plot that shows your account balance through all the months until the balance is no longer positive

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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You begin on 1 January 2015 by making an initial deposit of $7,200.00 to open a savings account at
Bank of Mason. This account pays 0.4200% interest per month. Every even-numbered month, you
withdraw $600.00 to pay your tuition installment balance. At the end of December each year you
receive a $1,500.00 end-of-year bonus from your employer, which you deposit into your account.
Run your simulation until your account balance is no longer positive.
Question 1:
During what month does your account balance hit zero or go negative?
Question 2:
Prepare a plot that shows your account balance through all the months until the balance is no
longer positive
Transcribed Image Text:You begin on 1 January 2015 by making an initial deposit of $7,200.00 to open a savings account at Bank of Mason. This account pays 0.4200% interest per month. Every even-numbered month, you withdraw $600.00 to pay your tuition installment balance. At the end of December each year you receive a $1,500.00 end-of-year bonus from your employer, which you deposit into your account. Run your simulation until your account balance is no longer positive. Question 1: During what month does your account balance hit zero or go negative? Question 2: Prepare a plot that shows your account balance through all the months until the balance is no longer positive
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