The value of a saving account, V, after t years is given by: V=P[1 + ²/100 M n where P is the initial investment, r is t

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The Value Of A Saving Account V After T Years Is Given By V P 1 100 M N Where P Is The Initial Investment R Is T 1 (62.5 KiB) Viewed 67 times

The value of a saving account, V, after t years is given by: V=P[1 + ²/100 M n where P is the initial investment, r is the yearly interest rate in % (e.g., 7.5% entered as 7.5), and n is the number of times per year that the interest is compounded. Write a MATLAB program in a script file that calculates V. When the program is executed it asks the user to enter the amount of the ini- tial investment, the number of years, the interest rate and the number of times per year that the interest is compounded. The output is displayed in the following format: "The value of a $XX investment at a yearly interest rate of X.X% compounded X times per year, after XX years is SXXXX.XX", where XXX stands for the corresponding quantities. Use the program to determine the value of a $20,000 investment after 18 years if the yearly interest rate is 3.5% compounded 6 time a year.