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MATHEMATICS - CASE STUDY

    Introduction


Problem Diagram

 

David is a freshman at the University of Oklahoma. His dad, a mathematician, has set up a college fund of 60,000 dollars for him. In order to prepare his son to gradually become financially independent, he has restrictions on how the withdrawals can be made. David can only withdraw money from the fund once a month and the amount is one-eighth of the remaining fund.

   
  Questions

 

How much time does David has before he needs to survive on his own?

   
    Approach

   
  • Assume that the college fund runs out when the balance is one hundred dollars.