Please help me with this MATLAB problem! Thank you. It is December 31, 2040, and

Question

Please help me with this MATLAB problem! Thank you.

It is December 31, 2040, and I just retired with $M in the bank. Tomorrow, my annual interest of 6% will be added to that total (so I will have 1.06M), and this will happen every year on January 1. I plan to spend $50,000 per year (so on Dec 31, 2041, I will have 1.06M 50, 000). Write a file retire.m that uses a while loop to accomplish two things:

1. Takes M as an input and returns the number of years until I no longer have $50,000 to get through the next year.

2. Plots the amount in my account as a function of time until I no longer have $50,000 to get through the next year. The horizonal axis should be year starting with 2040.

Explanation / Answer

i=1

a=x

while(a>0)

a=1.06*a-50000

ar(i)=a

i=i+1

end

disp(i)

ari=[2040:2040+i-1]

plot(ari,ar)

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.