Question: MATLAB:: the formula for calculating a car payment is shown below... The formula for calculating a car payment is shown below A = p r(1

MATLAB:: the formula for calculating a car payment is shown below...

The formula for calculating a car payment is shown below A = p r(1 + r)^n/(1 + r)^n - 1 where A = payment Amount per period P = initial Principal (loan amount) r = interest rate per period n = total number of payments or periods Given one car price (P), one interest rate per period (r), and multiple possible payment times (n), compute the monthly payment amount and store the result as variable A Example: Input P = 20000, r = .035/12 (3.5% annual rate) n = [36 48 60] (months) Output A = [586.0416 447.1200 363.8349]

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