Solve for the (1) in the blank Assume that you save 22,000USD to keep on the 1st day of every month under the systems, keeping in your home or monthly 7% simple interest in the bank. Put the balance at the beginning of nth month under the system. keeping in your home Mn and simple interest Sn Sn Then, the first chance when ≥ 2 is at the beginning of (1) th month. Mn Hint: Calculate the cases n = 1, 2, 3, ... to find the rule.
Solve for the (1) in the blank Assume that you save 22,000USD to keep on the 1st day of every month under the systems, keeping in your home or monthly 7% simple interest in the bank. Put the balance at the beginning of nth month under the system. keeping in your home Mn and simple interest Sn Sn Then, the first chance when ≥ 2 is at the beginning of (1) th month. Mn Hint: Calculate the cases n = 1, 2, 3, ... to find the rule.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Solve for the (1) in the blank
Assume that you save 22,000USD to keep on
the 1st day of every month
under the systems, keeping in your home or
monthly 7% simple interest in the bank.
Put the balance at the beginning of n th month
under the system. keeping in your home Mn and
simple interest Sn
Sn
Then, the first chance when
≥ 2 is at the beginning of (1) th month.
Mn
Hint: Calculate the cases n = 1, 2, 3, ... to find the rule.
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