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In matlab create a while loop for the following : A) Suppose that Gomez takes out a loan for $22,000 to buy a new SUV
In matlab create a while loop for the following :
A) Suppose that Gomez takes out a loan for $22,000 to buy a new SUV (after trading in his car). The bank charges 6% annual interest on the unpaid balance, compounded monthly (that's 0.5% interest each month). If Gomez pays $300 at the end of each month, how many months will it take him to pay off his loan? What is the amount of his last payment? His last payment will just cover the unpaid balance so will likely be less than $300. B) If, in writing a while loop to solve this problem you accidentally typed 220000 (rather than 22000); i.e., you added an extra zero to the loan amount. Explain what would happen. If you don't know what would happen, try it out
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