please explain lines of code as well... im new to matlab

Consider the difference equation p(n) = p(n-1) + 100 p(n-1)-X Where p[n) is the principal owed at time nT, T is one payment period, r is the interest rate in percent for the payment period, and X is the periodic loan payment. Typically, T is one month. It can be shown that at the end of Lth period, the remaining principle is: 1-? where P is the initial loan amount and ?-[1 + r/100]. f the loan is to be completely repaid in N time periods, then X- -N Assume you want to design the loans for a variety of situation. One possibility is to obtain plots that display trends. Write a MATLAB script to obtain plots of X versus N for a $10000 loan for N-60 months, 72 months,and 84 months with annual interest rates of 5%, 6%, and 7%, respectively, (r:0.05/12, 0.06/12, and 007/12) Make sure that your plots contain proper title, axis-labels, and legend