"In Matlab"

A person deposits $1000 in a bank. Interest is compounded monthly at the rate of 1% per month. Write a program which will compute the monthly balance, but write it only annually for 10 years (use nested for loops, with the outer loop for 10 years, and the inner loop for 12 months). Note that after 10 years, the balance is $3300.39, whereas if interest had been compounded annually at the rate of 12% per year the balance would only have been $3105.85. See if you can vectorize your solution.