*USING MATLAB SOLVE THIS (NOT ON PAPER)

1. You purchase a new home for $375,000. You make a 20% down payment and finance the remainder for 30 years with a fixed interest rate loan. You are considering the following payment plans: A) You make monthly payments of $2,000 for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton-Raphson, & Secant. B) You will make quarterly payments of $6,000 (every 3 months) for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r ), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton- Raphson, & Secant C) You will make bi-weekly payments of $1,000 (every 2 weeks) for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r ), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton- Raphson, & Secant. D) Which option should you choose (justify your answer)? Calculate the amount to be financed, P Determine the uniform payment per compounding period, A Determine the number of compounding periods per year, m Determine the number of years the property will be financed, n The formula relating the amount to be financed to the uniform payment per compounding period is: r 1+ m m*n -1 P= A m*n LC r 1+ m m Where: r = nominal annual interest rate expressed as a decimal 1. You purchase a new home for $375,000. You make a 20% down payment and finance the remainder for 30 years with a fixed interest rate loan. You are considering the following payment plans: A) You make monthly payments of $2,000 for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton-Raphson, & Secant. B) You will make quarterly payments of $6,000 (every 3 months) for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r ), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton- Raphson, & Secant C) You will make bi-weekly payments of $1,000 (every 2 weeks) for 30 years. Use MatLab to graph the function and find the nominal annual interest rate of the loan (hint: find r ), to a value of es corresponding to 5 significant figures up to a maximum of 100 iterations using each root finding method: Bisection, False Position, Newton- Raphson, & Secant. D) Which option should you choose (justify your answer)? Calculate the amount to be financed, P Determine the uniform payment per compounding period, A Determine the number of compounding periods per year, m Determine the number of years the property will be financed, n The formula relating the amount to be financed to the uniform payment per compounding period is: r 1+ m m*n -1 P= A m*n LC r 1+ m m Where: r = nominal annual interest rate expressed as a decimal