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Problem 1. How many expenses can you afford to maintain steady-state? You had $1000 in your checking account on January 1, 2018 which was a

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Problem 1. How many expenses can you afford to maintain steady-state? You had $1000 in your checking account on January 1, 2018 which was a Monday. You are paid weekly a salary of $300 on Fridays, however, you must pay your rent and additional expenses (e.g., electricity, water, food, etc.) on the last day of each month. Again assume that your checking account credits interest to your account on a daily basis at a rate of 0.1%. (0) How much money can you withdraw per month in 2018 to pay your bills and to achieve an end-of-month balance of $1000? (1) Plot your daily account balance over the course of 2018. (ili) If you withdraw a constant amount on the last day of every month for expenses and want to maintain an average daily balance of $1000 during 2018, how much can you withdraw? (iv) Under these conditions, plot your daily account balance over the course of 2018. (v) What expenses can you afford if you want to maintain a steady-state (say over 50 years) balance of $1000? Assume again that you withdraw a constant amount each month and that you withdraw only the money for your expenses

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