Problem

Economic formulas are available to compute annual payments for loans. Suppose that you bor...

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 = $100,000 and an interest rate of 3.3% (i = 0.033). 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.

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Solutions For Problems in Chapter 3