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Determine the amount of money in a college savings account each month for the following scenario. In the first month, S1000 dollars is initially deposited
Determine the amount of money in a college savings account each month for the following scenario. In the first month, S1000 dollars is initially deposited in a savings account. At the beginning of each subsequent month, interest is added to the account (compounded monthly at the rate of 0.5% of the balance in the account). In addition, $100 is added to the account each month. Plot the balance in the account (S) versus time (years) over a period of 18 years. Hint: this will require indexing within your loop. Also print "At the end of 18 years you'll have dollars." 5
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