Question: Exam Practice Problems Task 1. Credit Card Interest. Write a MATLAB script (ccinterest.m) that determines the number of months required to pay off a credit

 Exam Practice Problems Task 1. Credit Card Interest. Write a MATLAB
script (ccinterest.m) that determines the number of months required to pay off
a credit card balance assuming no other purchases are made while the

Exam Practice Problems Task 1. Credit Card Interest. Write a MATLAB script (ccinterest.m) that determines the number of months required to pay off a credit card balance assuming no other purchases are made while the debt is being paid. Consider the following variables. b:-credit card balance n: number of months to pay off the balance p monthly payment . r:-effective (monthly) interest rate Then, the number of months, n, needed to pay off the balance is r.b -log10 (1-) log10 (1+r) As an example, suppose you have a credit card with an 18% annual percentage rate (APR), with the card, you made a purchase costing $350 and will pay it off by paying $10 each month. As a result, b $350, r-0.18/12, and p-10. Substituting these numbers into the above equation gives n-50. That is, assuming a monthly payment of $10, it will take over 4 years to pay off a purchase of $350. In your script, the user provides the initial credit card balance and the annual percentage rate of the interest (interest entered as a decimal equivalent, ie, 0.10 for 10% or 0.18 for 18%). Your output will show, for each monthly payment amount between 1% and 25% of the initial balance, the number of months required to payoff the credit card. Your script should also indicate if the interest accumulates faster than the monthly payment (i.e. if 1-rb/p

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