Question
A UMP student have an original saving of RM 1000 in ABC bank. As a saving, the student wishes to allocate RM 100 per month
A UMP student have an original saving of RM 1000 in ABC bank. As a saving, the student wishes to allocate RM 100 per month for the entire 4 years studies at UMP. The interest rate of ABC bank is 6% per year compounded monthly, which is equivalent to 0.5% each month. Because of interest payments and self-saving, the account balance will increase every month in accordance with the formula; New balance = original balance + interest + saving allocation Use a for loop to find the amount in the savings account each month for the next 4 years. (Create a vector of values.) Plot the amount in the account as a function of time. (Plot time on the horizontal axis and RM on the vertical axis.)
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