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happykiddo
 one year ago
Write an algorithm to settle the following question: A bank account starts out with 10,000. Interest is compounded monthly at 0.5 percent per month. Every month, $500 is withdrawn to meet college expenses. After how many years is the account depleted? – Note you don’t have to supply the number of years it takes the account to deplete just the “algorithm” that would be used to answer that question.
happykiddo
 one year ago
Write an algorithm to settle the following question: A bank account starts out with 10,000. Interest is compounded monthly at 0.5 percent per month. Every month, $500 is withdrawn to meet college expenses. After how many years is the account depleted? – Note you don’t have to supply the number of years it takes the account to deplete just the “algorithm” that would be used to answer that question.

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happykiddo
 one year ago
Best ResponseYou've already chosen the best response.0initial_amount = 10000 interest_per_month = 0.5 withdrawn_per_month = 500 final_amount = 0 new_amount1 = ((initial_amount * interest_per_month) + interest_per_month)  withdrawn_per_month new_amount2 = ((new_amount1 * interest_per_month) + interest_per_month)  withdrawn_per_month new_amount3= ((new_amount2 * interest_per_month) + interest_per_month)  withdrawn_per_month

happykiddo
 one year ago
Best ResponseYou've already chosen the best response.0This is how far I've gotten. How would I loop this until whatever "new_amount" is equal to 0. And by the way I'm using Python.
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