Getting a compound matrix to work
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So my goal is to: Create a matrix with four columns: the first column contains the principal amount that is deposited in a bank, and the next three columns are the total amount (with interest) in the bank after [1 3 16] years. Use the principal amounts and compound interest rate specified in each question. Enter the matrix you created in the text box below each question.
For the first question, my first principal value is 800, and I am getting the wrong output. Am I not setting up the compound equation correctly? And how should I set up the [1 3 16] values?
2 Comments
David Hill
on 12 Feb 2022
How often are you compounding? Use should use the code box (so we can read your code and copy and paste it) if you want help. Like this:
n=[1 5 16];
p=800;
number_of_compounding=365;%daily compounding
interest=20;
f=p*(1+interest/100/number_of_compounding).^(number_of_compounding*n);
Accepted Answer
Arif Hoq
on 12 Feb 2022
Edited: Arif Hoq
on 12 Feb 2022
n=[1,3,16];
P=800;
t=20;
format shortG
y=P.*(1+t/100).^n-P; % Compound Interest,C.I.= P × (1+t)n - P
Year_1=y(1);
Year_3=y(2);
Year_16=y(3);
T=table(Year_1 , Year_3, Year_16)
writetable(T,'tabledata.txt','Delimiter','tab'); % save the table in the text file
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