2) Create a new SCRIPT file called collegeSavings.m Imagine that you are a proud new parent. You decide to start a college savings plan now for your child, hoping to have enough in 18 years to pay the sharply rising cost of education. Suppose that your folks give you $1000 to get started and that each month you can contribute $100. Suppose also that the interest rate is 6% per year compounded monthly, which is equivalent to 0.5% each month. Because of interest payments and your contribution, each month your balance will increase in accordance with the formula: New balance old balance + interest + your contribution Use a for loop to find the amount in the savings account each month for the next 18 years. You will build a vector of your savings account balance for each month over 18x12 months. Before the loop starts, define savings(1) 1000. That's the initial amount in your account. Then make a for loop that starts k at 2 and ends at 18x12. Each cycle through the loop should define savings(k) given the formula for New balance above. HINT: New balance is savings(k), old balance is savings(k-1), interest is the interest rate (in percent divided by 100) times the old balance, and your contribution is 100. If we were going to "unfold" the for loop as it runs, it would work something like this: savings (2) = savings(1)+ savings(1)*(0.5/100)+100; savings(3)= savings(2) + savings(2)*(0.5/100)+100; savings(4) savings(3) + savings(3)*(0.5/100)+100; ... and so on But this is not what you are going to type in your program (if you did, you would have to repeat those lines 18x12 times!) Use a for loop to do all the calculations needed in a very compact form. After the loop ends, create a time vector for time in years that has the same length as the savings vector. Then Plot the amount in the savings account as a function of time in YEARS. (Plot time on the horizontal axis and dollars on the vertical axis.) SAVE PLOT as collegeSavings.jpg You can extract the last value in the savings vector using the special keyword end. So you can make a scalar value with your savings balance at the end of 18 years with the statement: collegeSavings savings(end) Put this line at the end of the file and copy/paste the result (a single number) into the file, commenging it out.
2) Create a new SCRIPT file called collegeSavings.m Imagine that you are a proud new parent. You decide to start a college savings plan now for your child, hoping to have enough in 18 years to pay the sharply rising cost of education. Suppose that your folks give you $1000 to get started and that each month you can contribute $100. Suppose also that the interest rate is 6% per year compounded monthly, which is equivalent to 0.5% each month. Because of interest payments and your contribution, each month your balance will increase in accordance with the formula: New balance old balance + interest + your contribution Use a for loop to find the amount in the savings account each month for the next 18 years. You will build a vector of your savings account balance for each month over 18x12 months. Before the loop starts, define savings(1) 1000. That's the initial amount in your account. Then make a for loop that starts k at 2 and ends at 18x12. Each cycle through the loop should define savings(k) given the formula for New balance above. HINT: New balance is savings(k), old balance is savings(k-1), interest is the interest rate (in percent divided by 100) times the old balance, and your contribution is 100. If we were going to "unfold" the for loop as it runs, it would work something like this: savings (2) = savings(1)+ savings(1)*(0.5/100)+100; savings(3)= savings(2) + savings(2)*(0.5/100)+100; savings(4) savings(3) + savings(3)*(0.5/100)+100; ... and so on But this is not what you are going to type in your program (if you did, you would have to repeat those lines 18x12 times!) Use a for loop to do all the calculations needed in a very compact form. After the loop ends, create a time vector for time in years that has the same length as the savings vector. Then Plot the amount in the savings account as a function of time in YEARS. (Plot time on the horizontal axis and dollars on the vertical axis.) SAVE PLOT as collegeSavings.jpg You can extract the last value in the savings vector using the special keyword end. So you can make a scalar value with your savings balance at the end of 18 years with the statement: collegeSavings savings(end) Put this line at the end of the file and copy/paste the result (a single number) into the file, commenging it out.
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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Transcribed Image Text:2) Create a new SCRIPT file called collegeSavings.m
Imagine that you are a proud new parent. You decide to start a college savings plan now for
your child, hoping to have enough in 18 years to pay the sharply rising cost of education.
Suppose that your folks give you $1000 to get started and that each month you can contribute
$100. Suppose also that the interest rate is 6% per year compounded monthly, which is
equivalent to 0.5% each month. Because of interest payments and your contribution, each
month your balance will increase in accordance with the formula:
New balance old balance + interest + your contribution
Use a for loop to find the amount in the savings account each month for the next 18 years.
You will build a vector of your savings account balance for each month over 18x12 months.
Before the loop starts, define savings(1) 1000. That's the initial amount in your account. Then
make a for loop that starts k at 2 and ends at 18x12. Each cycle through the loop should define
savings(k) given the formula for New balance above. HINT: New balance is savings(k), old
balance is savings(k-1), interest is the interest rate (in percent divided by 100) times the old
balance, and your contribution is 100.
If we were going to "unfold" the for loop as it runs, it would work something like this:
savings(2)= savings(1) + savings(1)*(0.5/100)+100;
savings(3) = savings(2) + savings(2)*(0.5/100)+100;
savings(4)= savings(3) + savings(3)*(0.5/100)+100;
... and so on
But this is not what you are going to type in your program (if you did, you would have to repeat
those lines 18x12 times!) Use a for loop to do all the calculations needed in a very compact
form.
After the loop ends, create a time vector for time in years that has the same length as the
savings vector. Then Plot the amount in the savings account as a function of time in YEARS. (Plot
time on the horizontal axis and dollars on the vertical axis.) SAVE PLOT as collegeSavings.jpg
You can extract the last value in the savings vector using the special keyword end. So you can
make a scalar value with your savings balance at the end of 18 years with the statement:
collegeSavings = savings(end)
Put this line at the end of the file and copy/paste the result (a single number) into the file,
commenging it out.
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