4 Task 3 Using a nested loop Write a program that takes a bank account balance and an interest rate as an input And then outputs the value of the account in 5 years The output should show the value of the account for two different methods of compounding interest annually and monthly When compounded annually, the interest is added once per year at the end of the year When compounded monthly the interest is added in 12 times per year On annual interest, you can assume that the interest is posted exactly one year from the date of deposit In other words, you do not have to worry about interest being posted on a specific day of the year, like December 31 Similarly, you can assume monthly interest is posted exactly one month after Since the account earns interest on the interest, the account should have a higher balance when interest is posted more frequently Be sure to adjust the interest rate for the time period of the interest If the rate is 5 , then when posting monthly interest, you use (5 12 ) Do your calculations using a loop that adds in the interest for each time period (Do not use some sort of algebraic formula) Your program should have an outer loop that allows the user to repeat this calculation for a new balance and interest rate OUTPUT 1 Bank Account Balance 100 Interest Rate 5 Mode Menu 1 Annually 2 Monthly Option 1 Annually Interest Bank Account Balance in Year 1 105 00 Bank Account Balance in Year 2 110 25 Bank Account Balance in Year 3 115 76 Bank Account Balance in Year 4 121 55 Bank Account Balance in Year 5 127 63 OUTPUT 2 Bank Account Balance 100 Interest Rate 5 Mode Menu 1 Annually 2 Monthly Option 2 Monthly Interest Year 1 Bank Account Balance in Month 1 100 42 Bank Account Balance in Month 2 100 84 Bank Account Balance in Month 3 101 26 Bank Account Balance in Month 4 101 68 Bank Account Balance in Month 5 102 10 Bank Account Balance in Month 6 102 53 Bank Account Balance in Month 7 102 95 Bank Account Balance in Month 8 103 38 Bank Account Balance in Month 9 103 81 Bank Account Balance in Month 10 104 25 Bank Account Balance in Month 11 104 68 Bank Account Balance in Month 12 105 12 Year 2 Bank Account Balance in Month 1 105 55 Bank Account Balance in Month 2 105 99 Bank Account Balance in Month 3 106 44 Bank Account Balance in Month 4 106 88 Bank Account Balance in Month 5 107 32 Bank Account Balance in Month 6 107 77 Bank Account Balance in Month 7 108 22 Bank Account Balance in Month 8 108 67 Bank Account Balance in Month 9 109 12 Bank Account Balance in Month 10 109 58 Bank Account Balance in Month 11 110 04 Bank Account Balance in Month 12 110 49 Year 3 Bank Account Balance in Month 1 110 95 Bank Account Balance in Month 2 111 42 Bank Account Balance in Month 3 111 88 Bank Account Balance in Month 4 112 35 Bank Account Balance in Month 5 112 82 Bank Account Balance in Month 6 113 29 Bank Account Balance in Month 7 113 76 Bank Account Balance in Month 8 114 23 Bank Account Balance in Month 9 114 71 Bank Account Balance in Month 10 115 19 Bank Account Balance in Month 11 115 67 Bank Account Balance in Month 12 116 15 Year 4 Bank Account Balance in Month 1 116 63 Bank Account Balance in Month 2 117 12 Bank Account Balance in Month 3 117 61 Bank Account Balance in Month 4 118 10 Bank Account Balance in Month 5 118 59 Bank Account Balance in Month 6 119 08 Bank Account Balance in Month 7 119 58 Bank Account Balance in Month 8 120 08 Bank Account Balance in Month 9 120 58 Bank Account Balance in Month 10 121 08 Bank Account Balance in Month 11 121 58 Bank Account Balance in Month 12 122 09 Year 5 Bank Account Balance in Month 1 122 60 Bank Account Balance in Month 2 123 11 Bank Account Balance in Month 3 123 62 Bank Account Balance in Month 4 124 14 Bank Account Balance in Month 5 124 65 Bank Account Balance in Month 6 125 17 Bank Account Balance in Month 7 125 70 Bank Account Balance in Month 8 126 22 Bank Account Balance in Month 9 126 74 Bank Account Balance in Month 10 127 27 Bank Account Balance in Month 11 127 80 Bank Account Balance in Month 12 128 34 Codio Project File Edit Find View Tools Education Help Compile Project Index (static) Debug Current File task3 c 4 Task 3 Using a 1 include Collapse void main() your codes here 4 Task 3 Using a nested loop 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Write a program that takes a bank account balance and an interest rate as an input And then outputs the value of the account in 5 years The output should show the value of the account for two different methods of compounding interest annually and monthly When compounded annually, the interest is added once per year at the end of the year When compounded monthly the interest is added in 12 times per year On annual interest, you can assume that the interest is posted exactly one year from the date of deposit In UK 100 (20 1)

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4. Task 3: Using a nested loop Write a program that takes a bank account balance and an interest rate as an input. And then

4. Task 3: Using a nested loop

Write a program that takes a bank account balance and an interest rate as an input. And then outputs the value of the account in 5 years. The output should show the value of the account for two different methods of compounding interest: annually and monthly. When compounded annually, the interest is added once per year at the end of the year. When compounded monthly the interest is added in 12 times per year. On annual interest, you can assume that the interest is posted exactly one year from the date of deposit. In other words, you do not have to worry about interest being posted on a specific day of the year, like December 31. Similarly, you can assume monthly interest is posted exactly one month after. Since the account earns interest on the interest, the account should have a higher balance when interest is posted more frequently. Be sure to adjust the interest rate for the time period of the interest. If the rate is 5%, then when posting monthly interest, you use (5/12%). Do your calculations using a loop that adds in the interest for each time period. (Do not use some sort of algebraic formula). Your program should have an outer loop that allows the user to repeat this calculation for a new balance and interest rate.

OUTPUT 1
Bank Account Balance: 100
Interest Rate: 5
Mode Menu
[1] Annually
[2] Monthly
Option: 1
Annually Interest
Bank Account Balance in Year 1: 105.00
Bank Account Balance in Year 2: 110.25
Bank Account Balance in Year 3: 115.76
Bank Account Balance in Year 4: 121.55
Bank Account Balance in Year 5: 127.63

OUTPUT 2
Bank Account Balance: 100
Interest Rate: 5
Mode Menu
[1] Annually
[2] Monthly
Option: 2
Monthly Interest
Year 1
Bank Account Balance in Month 1: 100.42
Bank Account Balance in Month 2: 100.84
Bank Account Balance in Month 3: 101.26
Bank Account Balance in Month 4: 101.68
Bank Account Balance in Month 5: 102.10
Bank Account Balance in Month 6: 102.53
Bank Account Balance in Month 7: 102.95
Bank Account Balance in Month 8: 103.38
Bank Account Balance in Month 9: 103.81
Bank Account Balance in Month 10: 104.25
Bank Account Balance in Month 11: 104.68
Bank Account Balance in Month 12: 105.12
Year 2
Bank Account Balance in Month 1: 105.55
Bank Account Balance in Month 2: 105.99
Bank Account Balance in Month 3: 106.44
Bank Account Balance in Month 4: 106.88
Bank Account Balance in Month 5: 107.32
Bank Account Balance in Month 6: 107.77
Bank Account Balance in Month 7: 108.22
Bank Account Balance in Month 8: 108.67
Bank Account Balance in Month 9: 109.12
Bank Account Balance in Month 10: 109.58
Bank Account Balance in Month 11: 110.04
Bank Account Balance in Month 12: 110.49
Year 3
Bank Account Balance in Month 1: 110.95
Bank Account Balance in Month 2: 111.42
Bank Account Balance in Month 3: 111.88
Bank Account Balance in Month 4: 112.35
Bank Account Balance in Month 5: 112.82
Bank Account Balance in Month 6: 113.29
Bank Account Balance in Month 7: 113.76
Bank Account Balance in Month 8: 114.23
Bank Account Balance in Month 9: 114.71
Bank Account Balance in Month 10: 115.19
Bank Account Balance in Month 11: 115.67
Bank Account Balance in Month 12: 116.15
Year 4
Bank Account Balance in Month 1: 116.63
Bank Account Balance in Month 2: 117.12
Bank Account Balance in Month 3: 117.61
Bank Account Balance in Month 4: 118.10
Bank Account Balance in Month 5: 118.59
Bank Account Balance in Month 6: 119.08
Bank Account Balance in Month 7: 119.58
Bank Account Balance in Month 8: 120.08
Bank Account Balance in Month 9: 120.58
Bank Account Balance in Month 10: 121.08
Bank Account Balance in Month 11: 121.58
Bank Account Balance in Month 12: 122.09
Year 5
Bank Account Balance in Month 1: 122.60
Bank Account Balance in Month 2: 123.11
Bank Account Balance in Month 3: 123.62
Bank Account Balance in Month 4: 124.14
Bank Account Balance in Month 5: 124.65
Bank Account Balance in Month 6: 125.17
Bank Account Balance in Month 7: 125.70
Bank Account Balance in Month 8: 126.22
Bank Account Balance in Month 9: 126.74
Bank Account Balance in Month 10: 127.27
Bank Account Balance in Month 11: 127.80
Bank Account Balance in Month 12: 128.34

Codio Project File Edit Find View Tools Education Help Compile Project Index (static) Debug Current File task3.c 4. Task 3: Using a... 1. #include Collapse void main() { //your codes here... 4. Task 3: Using a nested loop 3 4. 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 } Write a program that takes a bank account balance and an interest rate as an input. And then outputs the value of the account in 5 years. The output should show the value of the account for two different methods of compounding interest: annually and monthly. When compounded annually, the interest is added once per year at the end of the year. When compounded monthly the interest is added in 12 times per year. On annual interest, you can assume that the interest is posted exactly one year from the date of deposit. In UK 100% (20:1)