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C++ programming language BI U AA 111 iii Problem: Interest Earned Assuming there are no deposits other than the original investment, the balance in a
C++ programming language
BI U AA 111 iii Problem: Interest Earned Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as Final Balance = Principal * (1 + Rate/T)? . where Principal is the balance in the account Rate is the annual interest rate, Tis 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 S S Times Compounded: Principal: Interest: Final balance: 12 $ 1000.00 $ 43.33 $ 1043.33 Sample Output: Starting account balance: $1000 Annual account interest rate in the format .03 (for 3%): 0425 Number of times interest is compounded annually: 12 Earnings Report Interest Rate: Times Compounded Principal: Interest: Final Balance: 4.25% 12 $ 1800.00 43.34 $ 1843.34
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