Program: assign03a. m Write a MATLAB script file that uses principal (or amount), rate of interest, and time to compute and display the simple interest with appropriate labeling. Create a vector of rates using the following information entered from user. Ask the user to enter the low and high values for the rate range and the number of rates. Ask the user for the number of years.

The code is given in the answer along with the algorithm and explanation. The output and the workspace variables are also attached as screen shots.

Step-by-step explanation:

The basic algorithm of the code is as follows:

The code is here as follows

%% Preparing the formats

clc,clear all;%Clearing command line and workspace

format bank%Formatting

format compact%Formatting

%% Setting the constants

PRINCIPAL = 4000;%Principal amount fixed as 4000.

%% Taking inputs from the user

low_val = input('Enter the low value for the rate range: ');%Lowest value of the interest

high_val = input('Enter the high value for the rate range: ');%Highest value of the interest

rate_vals = input('Enter the number of rate values including high and low values: '); %Total number of rate values

year = input('Enter number of years: ');% Number of years

%% Creating the interest vectors

rate = linspace(low_val,high_val,rate_vals);%Creating the vector

%% Initializing the array

simple_interest=zeros(length(rate),1);%initializing the array to hold the simple interest

%% Displaying the interest rate vectors

fprintf('\t\t Rate(%%)\t\tInterest($)\n');%Displaying the  interest rate and interest heading

%% Calculating the interest vectors

for i = 1:length(rate)

   simple_interest(i) = (rate(i)*year*PRINCIPAL)/100;%Calculating Simple rate of interest for a given rate over the principal amount

fprintf('\t\t %.2f\t\t\t%.2f\n',rate(i),simple_interest(i));% Displaying each entry  interest rate and interest

end

%% Calculating and printing the average interest

fprintf('Average: Rate(%%)\t\tInterest($)\n');%Displaying the heading for average rate and interest

fprintf('\t\t %.2f\t\t\t%.2f\n',mean(rate),mean(simple_interest));%Calculating and displaying the average interest.

answer:

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

explanation:

service only with 20% tip  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

in the opening of the question the word 'service' is associated only with the pretax value.

the closing part of the question asks: how much did she pay for the  

service

−−−−−−  

so technically the answer is  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

however, the intention of the question provider may have been that your answer is to be  

$

87.12

(

1

+

8

100

)

=

$

94.09

to 2 decimal places.

'

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

tony b

mar 21, 2017

answer:

trying to explain it another way

explanation:

service charge  

.

→

$

72.60

20% tip  

20

100

×

$

72.60

=

$

14.52

−−−−−−  

←

add

$

87.12

tax  

8

100

×

$

87.12

=

$

6.97

−−−−−  

←

add

$

94.09

related questions

answer for #1 is c

answer for #2 is d

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