ENGR 200 (Computer applications in Engineering) Assignment 10 Total Points: 50 Due Date: July 31st at 11:59 pm, US Central Time INTRODUCTION: Student loan payments are typically based on a uniform payment series, in which the payment made every month is of the same amount. When a student loan is taken out from the bank or other lender, the money is essentially "rented"; interest may be thought of as this rental rate. Therefore, the principal (the amount borrowed) and the interest must be paid back to the lending agency. The monthly payment rate, A, may be found from the following equation: ????=????[????(1+????)????(1+????)????1] where P is the principal, i is the monthly interest rate (5% = 0.05), and n is the number of payments made. For a 10-year loan, there would be 120 payments; for a 15-year loan, there would be 180 payments. ASSIGNMENT: Write a MATLAB script that will calculate the monthly payment for annual interest rates ranging from 1% to 9% in 0.5% increments. The program will prompt the user to enter the principal in dollars and the number of years. Use the following prompts in your script: 'Enter principal in dollars: ' 'Enter number of years: ' You will need to convert from number of years to number of months, and from annual interest rate to monthly interest rate. Convert interest rates by dividing the interest rate by 12. The output report will be printed in MATLAB's Command Window. Before running your MATLAB program, do the following setup: 1.) Set the Command Window screen format by selecting: Preferences, Command Window Numeric Format: short g Numeric Display: loose Tab Size: 0 Apply, OK 2.) If needed, expand the Command Window to full screen before executing your program.