Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In C++ You have decided to save money to buy a new house. Write a program to determine how many months it will take you

In C++

You have decided to save money to buy a new house. Write a program to determine how many months it will take you to save enough money to make the down payments given the following assumptions:

image text in transcribed

The portion of the cost needed for a down payment is 25% (0.25) Since you just graduated, the current saving is 0 Assume you invest your current savings wisely. At the end of each month, you receive additional funding, currentSaving * r/ 12 where r = 0.04. (r is an annual rate, so we divided it by 12) At the end of each month, your savings will increase by the return of the investment and the portion of the salary. Your program asks: 1. The starting annual salary (in double) 2. The portion of the salary you save each month for a down payment (in double) 3. The cost of your dream house in double) Expected output 1 (bold is user input) Enter your annual salary: 120000 Enter the percent of your salary to save, as a decimal: .10 Enter the cost of your dream home: 1000000 Number of months: 183

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Bioinformatics Databases And Systems

Authors: Stanley I. Letovsky

1st Edition

1475784058, 978-1475784053

More Books

Students also viewed these Databases questions