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6.3 The future-value-of-money formula relates how much a current investment will be worth in the future, assuming a constant interest rate: where FV = PV × (1+ I)" FV is the future value, PV is the present value or investment, I is the interest rate expressed as a fractional amount per compounding period―i.e., 5% is expressed as .05, and N is the number of compounding periods. a. Create a MATLAB function called future_value with three inputs: the investment (present value), the interest rate expressed as a fraction, and the number of compounding periods. b. Use your function to determine the value of a $1000 investment in 10 years, assuming the interest rate is 0.5% per month, and the interest is compounded monthly. Activate Windows

6.3 The future-value-of-money formula relates how much a current investment will be worth in the future, assuming a constant interest rate: where FV = PV × (1+ I)" FV is the future value, PV is the present value or investment, I is the interest rate expressed as a fractional amount per compounding period―i.e., 5% is expressed as .05, and N is the number of compounding periods. a. Create a MATLAB function called future_value with three inputs: the investment (present value), the interest rate expressed as a fraction, and the number of compounding periods. b. Use your function to determine the value of a $1000 investment in 10 years, assuming the interest rate is 0.5% per month, and the interest is compounded monthly. Activate Windows

Computer Networking: A Top-Down Approach (7th Edition)
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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6.3 The future-value-of-money formula relates how much a current investment will be worth in the future, assuming a constant interest rate: where FV = PV × (1+ I)" FV is the future value, PV is the present value or investment, I is the interest rate expressed as a fractional amount per compounding period―i.e., 5% is expressed as .05, and N is the number of compounding periods. a. Create a MATLAB function called future_value with three inputs: the investment (present value), the interest rate expressed as a fraction, and the number of compounding periods. b. Use your function to determine the value of a $1000 investment in 10 years, assuming the interest rate is 0.5% per month, and the interest is compounded monthly. Activate Windows
Transcribed Image Text:6.3 The future-value-of-money formula relates how much a current investment will be worth in the future, assuming a constant interest rate: where FV = PV × (1+ I)" FV is the future value, PV is the present value or investment, I is the interest rate expressed as a fractional amount per compounding period―i.e., 5% is expressed as .05, and N is the number of compounding periods. a. Create a MATLAB function called future_value with three inputs: the investment (present value), the interest rate expressed as a fraction, and the number of compounding periods. b. Use your function to determine the value of a $1000 investment in 10 years, assuming the interest rate is 0.5% per month, and the interest is compounded monthly. Activate Windows
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