Interest calculation with while

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Tony Jacob
Tony Jacob on 29 Sep 2016
Commented: Walter Roberson on 3 Oct 2016
I have no idea where to start for this problem, any help would be appreciated.
Use a while loop to determine how many months it will take to accumulate $1.5 million in your retirement account under the following conditions: initial deposit = $1,000, interest is 0.5%, per month and you pay $750 into the account each month.

Answers (1)

Rani V.S
Rani V.S on 3 Oct 2016
Edited: Rani V.S on 3 Oct 2016
sum=1000
month=0
while sum<1500000
sum=(sum+750)*1.5
month=month+1
end
disp(month)
  1 Comment
Walter Roberson
Walter Roberson on 3 Oct 2016
That would be 50% interest per month, not 1/2 % interest per month.

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