TEXT or ANNOTATION multiple Colors, Multiple Lines

I want to input text in one box with multiple colors and multiple lines using Latex commands.

Ive tried everythig, nothing seems to work.

Looping through text...

color = {'b','y','g',};
words={' {$\rho= 5 cm$ }',' $\rho 10 cm$ ',' $\rho 20 cm$ '};
for i = length(color)    
    figure(1)   
    text('Position',...
        [0.5 0.5-(i*.1)],...
        'Interpreter','latex','String',words,'Color',color{i});    
end

Annotation with latex etc,

words='\bf{ $5 cm$}';
        textp={
            'String',words,...            
            };
       
        annotation('textbox',...
            [0.15 0.65 0.3 0.15],...
            'interpreter','latex',...
            textp,...            
            'FontSize',14,...
            'FontName','Times New Roman',...
            'LineStyle','--',...
            'EdgeColor','k',...
            'LineWidth',2);

I've tried various latex commands, various approaches... nothing seems to work...

        \color....
        \textcolor...

There must be a simple way to create a text box with varying Latex colors etc in a plot! THanks!

[Walter Roberson]

The material I am finding implies you would need to \usepackage{xcolor} or \usepackage{color} for really old installations. However, neither of those packages is available for MATLAB.

\color works with interpreter tex but not latex

[Philip]

That worked, I'll switch back to tex