matlab present value is 1000 and the interest is 6 compounde

matlab: present value is $1000 and the interest is 6% compounded annually, how many years will it take to double your investment?

use fprintf to format the problem

Year Balance

1 $1060.00

2 $xxxx.xx

3 . . .

Solution

clc

clear all

p=1000;

r=6;

i=1;

amount=p;

while (amount<2000)

sol(i)=amount*(1+r/100);

amount=sol(i);

i=i+1;

end

fprintf(\' Year Balace\ \')

for j=1:i-1

fprintf(\' %d %.2f\ \',j,sol(j))

end

RESULT:

Year Balace
1 1060.00
2 1123.60
3 1191.02
4 1262.48
5 1338.23
6 1418.52
7 1503.63
8 1593.85
9 1689.48
10 1790.85
11 1898.30
12 2012.20