Question: MATLAB CODING HELP The value of a saving account, V, after t years is given by: V = P(1 + r/100)^nt where P is the
The value of a saving account, V, after t years is given by: V = P(1 + r/100)^nt where P is the initial investment, r is the yearly interest rate in % (e.g., 7.5% entered as 7.5), and n is the number of times per year that the interest is compounded. Write a MATLAB program in a script file that calculates V. When the program is executed, it asks the user to enter the amount of the initial investment, the number of years, the interest rate, and the number of times per year that the interest is compounded. The output is displayed in the following format: "The value of a SXX investment at a yearly interest rate of X.X% compounded X times per year, after XX years is SXXXX.XX", where XXX stands for the corresponding quantities. Use the program to determine the value of a $20,000 investment after 18 years if the yearly interest rate is 3.5% compounded 6 times a year
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
