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How to plot the growth of interest in matlab (time on x-axis and current balance on y-axis)?

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Catherine
Catherine on 17 Sep 2013
Interest is compounded continuously; P = pe^(rt) represents the growth of your savings.
P= current balance
p= initial balance
e= (number 'e') approx. 2.72
r= growth rate (expressed as decimal fraction)
t= time invested (years)
Determine the amount in your account at the end of each year if you invest $1000 at 8% (0.08) for 30 years. Plot time on the x-axis and the current balance on the y-axis.

Answers (1)

Laurent
Laurent on 17 Sep 2013
I'll give you one hint, because it seems to me that this is homework.
t=[0:1:30];

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