Q8)

Thuan invests $20000 on April 6, 2020. His target is $23000.00 and he will withdraw the money on the first day that he will receive at least that much. If the interest rate is r(2) = 1.00%, find out what day he withdraws his money, and how much he receives if

a) The Greedy Bank method applies.

b) The Exact or Theoretical method applies.

c) The Practical or Approximate method applies.