To run the program on the Sun computers, save the program with filename fig1_29.m in your account. Then start MATLAB by typing matlab at the UNIX prompt. When MATLAB is running, the prompt is >> . To run the bank loan program, type fig1_29 at the MATLAB prompt. This will execute each statement in the file fig1_29.m. Please study the MATLAB program, and try to understand the syntax and what each statement does. MATLAB is also available on the PCs and MACs in Dana. A similar procedure can be used to run the program on those platforms.
Use the MATLAB program fig1_29.m to answer the following question. How many months would be required to repay a car loan of $15,000 with an annual interest rate of 8% when the monthly payment is $300?
Thank you and have a good weekend.