EBK MATLAB: AN INTRODUCTION WITH APPLIC
EBK MATLAB: AN INTRODUCTION WITH APPLIC
5th Edition
ISBN: 8220102007642
Author: GILAT
Publisher: YUZU
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Chapter 4, Problem 2P

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 Fin N years can be calculated by the formula:

P = F r / 12 1 + r / 12 12 N 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

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