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
Write an M-file to compute A. Test it with P = $55,000 and an interest rate of 6.6% (i = 0.066). Compute results for n = 1, 2, 3, 4, and 5 and display the results as a table with headings and columns for n and A.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.