Economic formulas are available to compute annual payments

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Reference no: EM131094430

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, 5 and display the results as a table with headings and columns for n and A.

Please do it all in MATLAB.

Reference no: EM131094430

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