%matlab code
%problem 1
deposit = 1000;
interest = 0.05;
amount10 = 0;
for i=1:10
amount10 = deposit*(1+interest);
deposit = amount10;
end
fprintf('Amount after 10 years: %0.2f\n', amount10);
amount20 = amount10;
for i=10:20
amount20 = deposit*(1+interest);
deposit = amount20;
end
fprintf('Amount after 20 years: %0.2f\n', amount20);
amount30 = amount20;
for i=20:30
amount30 = deposit*(1+interest);
deposit = amount30;
end
fprintf('Amount after 30 years: %0.2f\n', amount30);
%{
output:
Amount after 10 years: 1628.89
Amount after 20 years: 2785.96
Amount after 30 years: 4764.94
%}
%problem 2
deposit = 1000;
interest = 0.25;
amount10 = 0;
% interest added 3 times a year
for i=1:10
amount10 = deposit*(1+interest);
deposit = amount10;
amount10 = deposit*(1+interest);
deposit = amount10;
amount10 = deposit*(1+interest);
deposit = amount10;
end
fprintf('Amount after 10 years: %0.2f\n', amount10);
amount20 = amount10;
for i=10:20
amount20 = deposit*(1+interest);
deposit = amount20;
amount20 = deposit*(1+interest);
deposit = amount20;
amount20 = deposit*(1+interest);
deposit = amount20;
end
fprintf('Amount after 20 years: %0.2f\n', amount20);
amount30 = amount20;
for i=20:30
amount30 = deposit*(1+interest);
deposit = amount30;
amount30 = deposit*(1+interest);
deposit = amount30;
amount30 = deposit*(1+interest);
deposit = amount30;
end
fprintf('Amount after 30 years: %0.2f\n', amount30);
%{
output:
Amount after 10 years: 807793.57
Amount after 20 years: 1274473528.91
Amount after 30 years: 2010764683385.95
%}
%probelm 3
deposit = 1000;
interest = 0.05;
year = 0;
while true
deposit = deposit*(1+interest);
year = year + 1;
if deposit >= 5000
break
end
end
fprintf('Number of years required to reach $5000: %d\n',
year);
%output: Number of years required to reach $5000:
33
Suppose that $1000 is deposited into an account that pays 5% interest per year, at the...
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iz Instructions Question1 3 pts $12,000 is deposited in a bank account that pays 8% nominal interest per year. (a) How long does it take for the account to reach $42,500, if interest compounds quarterly? 13 years 14 years D 15 years O 16 years Question 2 3 pts (b) What nominal annual interest would be required for the account to reach $30,000 in 10 years, if interest compounds monthly? 8.5%/year 8.8%/year O 92%1year 98%/year ouiz saved at 9.58am Submit...
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