This model demonstrates how a fund element can be used to model a bank account. In this case, the account holder is paid $500 once per pay period (every 2 weeks) and it is deposited into the bank account. At random intervals (average once every 90 days), the account holder makes a purchase where the amount of the purchase is also random.
The Fund element ("Bank_Account") tracks deposits and purchases made over time and applies interest to the average balance at a nominal rate of 1% per year (only if the balance is positive). If a purchase is made while the account is less than $0, then the bank charges an overdraft fee of $50 per purchase.
Here is a plot showing a single realization:
Here is a plot showing a color-coded probabilistic time history of all the realizations.
To Open the Model File:
- Start GoldSim
- Click on the File and select Open Example...
- Browse to General Examples --> Financial Examples
- Select the file called Fund.gsm