Consider the algorithm shown in Figure Q6. This algorithm calculates the product of matrices a[ ]and b[], and stores the result in matrix c[ ]. Determine a big-O estimate for the execution time of the algorithm. Do provide explaination accordingly

proceduremmult(a[1 to n, 1 ton), b[1 to n, 1 to n]:real) begin fori :- 1 ton for j :- 1 ton begin c[i, j] := 0 for k: 1 ton c[i,j]:=c[i,j] + a[i,k] * b[k,j] end end