Question
C++ program Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as:
C++ program
Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as:
Amount = Principal * (1 + Rate/T) ^T
where Principal is the balance in the account, Rate is the annual interest rate, and T is the number of times the interest is compounded during a year. (e.g., T is 4 if the interest is compounded quarterly.)
Write a program that asks for the principal, the interest rate, and the number of times the interest is compounded. It should display a report similar to the following:
Interest Rate: 4.25%
Times Compounded: 12
Principal: $ 1000.00
Interest: $ 43.33
Final balance: $ 1043.33
In addition, your program should also ask user her/his full name ( first, and last name) and display the following message : ( if the user's name is John Doe and amount in savings is $1043.34)
John Doe has a total amount of $ 1043.34 in the savings account.
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