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Pls help with matlab problem. ALL conditional functions are BANNED. Function Name: numberWorker Inputs: 1. (double) Mx4 array of loan amounts (principal) 2. (double) Mx4
Pls help with matlab problem. ALL conditional functions are BANNED.
Function Name: numberWorker Inputs: 1. (double) Mx4 array of loan amounts (principal) 2. (double) Mx4 array of interest rates (percent) 3. (double) Mx4 array of duration of loans (number of years) 4. (double) Amount representing interest goal Outputs: 1. (double) 1x4 vector representing total expected interest from loans in each quarter 2. (char) Sentence describing how many quarters goal was made Topics: (array math operations), (formatted strings), (masking) Background: You have landed a big job at Bank of Buzz after graduating from Georgia Tech. In an effort to impress your boss (and maybe get a raise), you decide to use your MATLAB skills to help loan profit analysis on the loans that the bank issued this year. Function Description: You are given 3 arrays, each column representing one of the 4 quarters in a business year. The first array (input 1) contains records of all of the loans that the bank gave out in a year (P in the formula). The second array (input 2) contains the interest rates for the corresponding loans given in percentages (r in the formula). Finally, the third array (input 3) contains the time that the loan was out for (t in the formula). Using the simple interest formula shown below, calculate the interest that the bank earns per loan (store this output in an array). I = Prt After you have calculated the interest, produce a sum for each column of the interest array. This gives you the total interest per quarter vector (output 1), round this value to 2 decimal places. Count how many quarters the bank met or exceeded their quarterly interest goal, calculate the total interest for the entire year (round to the nearest cent) and output a string with the following format (output 2): 'The bank reached their goal quarters out of the year. The total expected interest is $Step by Step Solution
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