Checking for, installing, and loading packages in for loop in R [duplicate]

This question already has an answer here:

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• Elegant way to check for missing packages and install them? 26 answers

this is my first post on SO, so forgive me if the formatting is wanting.
I'm trying to write a utility script that checks whether required packages are installed and installs the packages if not installed. I am trying to use a for loop to do this. For example,

requiredpackages <- c("FinancialMath", "FinCal", "ggplot2")

for (pkg in requiredpackages) {
  if (pkg %in% rownames(installed.packages()) == FALSE)
  {install.packages(pkg)}
  if (pkg %in% rownames(.packages()) == FALSE)
  {library(pkg)}
}

When I run this script, however, I get the following error message: "Error in library(pkg) : there is no package called ‘pkg’"

What am I doing wrong?

Thank you for your time.