Question: In the savings account example above, modify the script such that it compounds the 3% interest monthly as opposed to annually. How many years does

 In the savings account example above, modify the script such that

  1. In the savings account example above, modify the script such that it compounds the 3% interest monthly as opposed to annually. How many years does it take now to accumulate over a million dollars in the account? State the number of years and show your modified script. (15pts)

  1. Write a script that utilizes a while loop which determines whether or not a number (N) is a factorial. If it is a factorial, the script should display the integer (n) and if it is not a factorial a message should be displayed stating Not a factorial. Hint, you might want to use conditional statements in addition to the while loop. (15pts)

Example: while loops The script below calculates the number of years it will take to accumulate over a million dollars in a savings account with a starting balance of $5000 dollars and an interest rate of 3%, compounded yearly. r=0.03; % remember 3% is expressed as 0.03 t=0; BB=5000; % beginning balance while BB

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!