This is a Matlab Assignment. Any help on how to work this would be very appreciated!

Mortgage: 10 year, 3% APR, $160,000

Part I: Demonstrate that 120 payments will pay the mortgage (i.e., balance after 120 payments)

o Test each payment to exceed balance + interest ? o Note: monthly interest is 3%/12 (or 0.0025)

o 120 payments of $1544.97

o Hint: use rem function: rem(k,12)==0 for annual balances (skip printing every month)

Part II How many payments needed if paying either $1650 or $1750 per month?

Hint: use rem function: rem(k,12)==0 for annual balances (for early part of mortgage)

Suggestion: While balance > payment (if statement)