Economic formulas are available to compute annual payments for loans. Suppose that you
Chapter 3, Problem 3.3(choose chapter or problem)
Economic formulas are available to compute annual payments for loans. Suppose that you borrow an amount of money P and agree to repay it in n annual payments at an interest rate of i. The formula to compute the annual payment A is A = P i(1 + i)n (1 + i)n 1 Write an M-file to compute A. Test it with P = $100,000 and an interest rate of 3.3% (i = 0.033). Compute results for n = 1, 2, 3, 4, and 5 and display the results as a table with headings and columns for n and A.
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