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please answer it using MATLAB ONLY. Thank you Q2: Economic formulas are available to compute annual payments for loans. Suppose that you borrow an amount
please answer it using MATLAB ONLY. Thank you
Q2: Economic formulas are available to compute annual payments for loans. Suppose that you borrow an amount of money P and agree to repay it in n annual payments at an interest rate of i. The formula to compute the annual payment A is: A=P(1+i)n1i(1+i)n. Write an M-file to compute A. Test it with P=$100,000 and an interest rate of 3.3%(i=0.033). Compute results for n=1,2,3,4, and 5 and display the results as a table with headings and columns for n,A, and the total interest paid (nAP)Step by Step Solution
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