Q5) Suppose a bank offers annual interest of 3% on balances of less than $5,000, 3.25% on balances of $5,000 or more but less than $10,000, and 3.5% for balance of $10,000 or more. Write a script in...

Using matlab commands Note solution without using ready-made functions

Extracted text: Q5) Suppose a bank offers annual interest of 3% on balances of less than $5,000, 3.25% on balances of $5,000 or more but less than $10,000, and 3.5% for balance of $10,000 or more. Write a script in Matlab to find the new balance. Note: New balance= (1+ interest).(balance)