Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

c++ 1) Write a C++ Program for the question describe below? (80 points) Typically, everyone saves money periodically for retirement, buying a house, or for

c++
image text in transcribed
1) Write a C++ Program for the question describe below? (80 points) Typically, everyone saves money periodically for retirement, buying a house, or for some other purposes. If you are saving money for retirement, then the money you put in a retirement fund is tax sheltered, and the employer also makes some contribution into your retirement fund. In this exercise, for simplicity, we assume that the money is put into an account that pays a fixed interest rate, and money is deposited into the account at the end of the specified period. Suppose that a person deposits R dollars m times a year into an account that pays r% interest compounded times a year for years. Then the total accumulated at the end of r years is given by: R m2 For example, suppose that you deposit $500 at the end of each month into an account that pays 4.8% interest per year compounded monthly for 25 years Then the total money accumulated into the account is 500(1+0.048/12 - 11/0.048/12) $289,0022 On the other hand, suppose that you want to accumulate S dollars in years and would like to know how much money, times a year, you should deposit into an account that payer interest compounded times a year 1e periodic payment is given by the formula: Design C++ Program with a class that we the above formulas to determine the total accumulated into an account and the periodo deposits to accumulate a specific amount Your class should have mstance variables to store the periode deposit, the value of the interest rate, and the number of years the money will be saved. Add appropriate contractors to male ince variable, functions to set the values of the instance variables, functim to retrieve the values of the instance variables, and functions to do the necessary calculated output U, &

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Databases questions

Question

What are the various types of executive compensation?

Answered: 1 week ago