SIMIODE resources are here. Use the Browse menu to find Modeling Scenarios and Resources migrated from the old website.

Close

## Resources

Modeling Scenario

## 1-040-OutcomeSavings-ModelingScenario

Author(s): Brian Winkel

SIMIODE - Systemic Initiative for Modeling Investigations and Opportunities with Differential Equations

Keywords: Pop_Growth Pilot savings growth deposit g

## Abstract

We ask students to build a model for a savings account and to determine the monthly deposit in a savings account in order meet a long term savings goal.

## Citation

Researchers should cite this work as follows:

## Description

You are going to build a mathematical model for savings. Be sure to state all your assumptions

1. Build a mathematical model to determine the monthly deposit you will need to make in a fixed interest account in order to attain a set financial goal in 20 years.
2. Apply this model to a situation in which you make an initial deposit of \$100 and you wish to attain a balance of \$100,000 in 20 years. Make a table of the monthly deposits for fixed interest rates going from 0.5% to 20% in increments of 0.5%.
3. Modify some aspect of your model, e.g., change an assumption, redo your analysis, and compare your results. Comment on the comparison.

## Authors

Author(s): Brian Winkel

SIMIODE - Systemic Initiative for Modeling Investigations and Opportunities with Differential Equations