Using matlab code: The monthly saving P that has to be deposit in a saving accou

Question

Using matlab code: The monthly saving P that has to be deposit in a saving account that pays an annual interest rate of r in order to save a total amount of F in N years can be calculated by the formula: P = F(r/12)/(1 + r/12)^12N - 1 Calculate the monthly saving that has to be deposit in order to save $100,000 in 5, 6, 7, 8, 9, and 10 years if the annual interest rate is 4.35%. Display the results in a two-column table where the first column is the number of years and the second column is the monthly deposit.

Explanation / Answer

Write the MATLAB code.

clear, clc

format bank

F=100000; r=4.35; years=5:10;

r=r/100; %converting rate to decimal

m_d=F*(r/12)./((1+/12).^(12*years)-1);

s_t=[years' m_d'];

disp(' Monthly')

disp(' Years Deposit')

disp(s_t)

Write the MATLAB output.

Years MonthlyDeposit

5.00 1494.99

6.00 1218.02

7.00 1020.55

8.00 872.78

9.00 758.13

10.00 666.67

Thus, the monthly deposit for each year is displayed.

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