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Roth IRA (loop, selection) O solutions submitted (max: Unlimited) Suppose you want to predict the value of your Roth IRA as you age. Create a function (RothIRA) that takes scalar inputs of the principal amount, contribution amount, annual interest rate and number of years. Your output will be a vector of the amount in your account the first day each year. Year one begins the day we open the account with our principal contribution. Assume that on the last day of the year, all interest is paid based on the amount in the account over the previous year and then the new contribution is added. Though this can be done without a loop (perhaps more efficiently), your program must use (at least) one loop. Hint: Use a for loop to generate the account value at the start of each year. For example, if there is $5500 in 2019 with an 8% interest rate, then there is $5500 + $440 (interest on the $5500) + $5500 (new contribution) = $11,440 in 2020, then $11,440 + $915.20 (interest on the $11,440) + $5500 (new contribution) = $17,855.20 in 2021, etc. Function C Reset DI MATLAB Documentation 1 %% Problem Template 2 %{ test cases: 4 p=1000; C=2500; r=0.05; n=5; -> V = [1000.00 3550.00 6227.50 9038.88 11990.82] 5 p=2000; c=3200; r=0.10; n=6; -> V = [2000.00 5400.00 9140.00 13254.00 17779.40 22757.34] 6 %} 8 function v - RothIRA(P, c,r,n) 9 % function v = RothIRA(P,c,r,n) 10 % p is scalar principal amount added on day one, c is the yearly 11 % contibution, r is the return rate, n is the number of years to simulate, 12 % v (vector) is the value of the account on the first day of the year. It 13 % will have the same number of elements as the value of n 14 format bank 15 16 %edit below this line 17 18 19 20 %edit above this line 21 22 return Code to call your function C Reset 1 format bank; 2 3 p=1000; C=2500; r=0.65; n=5; V = RothIRA(P, c,r,n); 5 disp(v); 6 7 p=2000; C=3200; r=0.10; n=6; 8 v = RothIRAP, C,r,n); 9 disp(v); Run Function Assessment: Submit Use a loop Random inputs Roth IRA (loop, selection) O solutions submitted (max: Unlimited) Suppose you want to predict the value of your Roth IRA as you age. Create a function (RothIRA) that takes scalar inputs of the principal amount, contribution amount, annual interest rate and number of years. Your output will be a vector of the amount in your account the first day each year. Year one begins the day we open the account with our principal contribution. Assume that on the last day of the year, all interest is paid based on the amount in the account over the previous year and then the new contribution is added. Though this can be done without a loop (perhaps more efficiently), your program must use (at least) one loop. Hint: Use a for loop to generate the account value at the start of each year. For example, if there is $5500 in 2019 with an 8% interest rate, then there is $5500 + $440 (interest on the $5500) + $5500 (new contribution) = $11,440 in 2020, then $11,440 + $915.20 (interest on the $11,440) + $5500 (new contribution) = $17,855.20 in 2021, etc. Function C Reset DI MATLAB Documentation 1 %% Problem Template 2 %{ test cases: 4 p=1000; C=2500; r=0.05; n=5; -> V = [1000.00 3550.00 6227.50 9038.88 11990.82] 5 p=2000; c=3200; r=0.10; n=6; -> V = [2000.00 5400.00 9140.00 13254.00 17779.40 22757.34] 6 %} 8 function v - RothIRA(P, c,r,n) 9 % function v = RothIRA(P,c,r,n) 10 % p is scalar principal amount added on day one, c is the yearly 11 % contibution, r is the return rate, n is the number of years to simulate, 12 % v (vector) is the value of the account on the first day of the year. It 13 % will have the same number of elements as the value of n 14 format bank 15 16 %edit below this line 17 18 19 20 %edit above this line 21 22 return Code to call your function C Reset 1 format bank; 2 3 p=1000; C=2500; r=0.65; n=5; V = RothIRA(P, c,r,n); 5 disp(v); 6 7 p=2000; C=3200; r=0.10; n=6; 8 v = RothIRAP, C,r,n); 9 disp(v); Run Function Assessment: Submit Use a loop Random inputs
