Question: Construct a simulation table IN EXCEL to simulate 28 days of the banking simulation. The initial balance is $2250. Each week a withdrawal of $225

  1. Construct a simulation table IN EXCEL to simulate 28 days of the banking simulation. The initial balance is $2250. Each week a withdrawal of $225 is made for living expenses, starting on day 7. A withdrawal of $50 (for additional expenses) is made from the ATM randomly, according to an inter arrival time that is given by an exponential distribution with mean of 4 days (i.e., use 4ln(U) where U is uniformly distributed) --- truncate the time to 1 decimal place. Determine the average balance in the account over the 28 day period. You may use RAND() values from Excel. Truncating the dates to a single decimal place should not affect the answer significantly.

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