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Use MATLAB 9. Create a function called savings_balance that determines the balance in a savings account at the end of every year for the first
Use MATLAB
9. Create a function called savings_balance that determines the balance in a savings account at the end of every year for the first n years, where n is an input. The account has an initial investment A (to be provided as input; for example, enter $10,000 as 10000) and an annually compounded interest rate of r % (to be provided as input; for example, enter 3.5% as 3.5). Display the information on screen in a table in which the 146 first column is Year and the second is Balance (\$). (Test case: n=10,A=10000,r=3.5. After 10 years the balance is $14,105.99.) With an initial investment of A and interest rate r, the balance B after n years is given by: B=A(1+r/100)nStep by Step Solution
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