Develop a VI that computes the balance of a bank account (compounded yearly) at a given interest rate with yearly monetary additions. Use the following base equation:

X=P1+in

Where X is end of year account balance, P is the initial account balance, i is the interest rate, and n is the number of years. NOTE: This equation does not account for additional yearly deposits! It is your job to figure out how to include that portion of the equation.

User inputs are:

Interest rate (%)

Initial principle ($)

Monetary goal ($)

Yearly deposits ($)

Assume yearly deposits occur at the beginning of each year, except for the initial year.

Use a Numeric Control for initial principle, monetary goal, and yearly deposit, but use a slider for interest rate.

Outputs are:

End of year account balance. Include a numerical and graphical expression of this value. (Use ex XY Graph from front panel)

LED Signal depicting when goal is reached

Years to reach goal

An example Front Panel can be seen on Page 2. You can check your VI with the results shown in the figure.

the graph should look like the photo attached. thank you!

Yearly Interest Calculator Goal [$] Recurring Deposit [$] Principle Amount [$] 12000 20000 1000000 Interest Rate 1%1 2 4 5 6 7 8 9 1 112 13 14 0 1 15 XY Graph Amount over time 1200000.0- 1000000.0- 800000.0- 600000.0- 400000.0- 200000.0- 0.0- 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0 Time [years] Years Current Amount [$] 1013760 22 Goal Reached! Current Amount [$] --0