Question

On the first day you withdraw $600 from an account. Each day after that, you withdraw 45% of the amount you withdrew the previous day. You continue daily withdrawals each day that the withdrawal remains at least $1. What is the total amount you withdraw?

A $1089.07
B $1090.08
С $1327 19
D $1090.91

Answer 1

To find the total amount you withdraw, use a recursive formula. The total amount you withdraw is $1089.07.

Step-by-step explanation:

To find the total amount you withdraw, you can use a recursive formula. Let's break it down:

1. On the first day, you withdraw $600.
2. On the second day, you withdraw 45% of $600 = $270.
3. On the third day, you withdraw 45% of $270 = $121.50.
4. Continue this pattern until your withdrawal is less than $1.
5. Add up all the amounts you withdrew to find the total.

Using this method, the total amount you withdraw is $1089.07.