= [(1 + )] (1 + ) 1 Where is the princple amount of the loan (i.e., the amount borrowed) is the number of total payments for the life of the loan is the periodic interest rate, in decimal form, in terms of the time period between payments You want to know how much principle has been paid back after some number of payments, . This is called the cumulative principle payment, . For example:You have a loan with a $1000/month payment.For the first three payments, the amount you paid towards principle was $100, then $120, and then $145. Your cumulative principle payments for those months were $100, $220, and $365. A general equation to calculate the cumulative principle payment is () = (1 + )(+1) =1

Where () is the cumulative principle payment after payment . Click here for help with summation notation. You expect the project will take out a loan with a principle of $500,000, with an annual interest rate of 10%, and paid back in equal monthly installments over a period of 15 years. You must write a script that will do the following: FOR loop. Determine a vector of the cumulative total payments that have been paid toward the loan at each month for the entire loan period. Determine a vector of the cumulative principle payments that have been paid at each month for the entire loan period. Create one (1) figure that displays the cumulative principle payment vector and thecumulative total payment vector on the same axes with number of months on the x-axis