Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write C++ program for a compound interest calculator. Ask the user for dep = initial deposit r = interest rate expressed as a fraction (example:

Write C++ program for a compound interest calculator.

Ask the user for dep = initial deposit r = interest rate expressed as a fraction (example: .06) t = years If we assume that the money is compounded on a monthly basis, the formula is: double final = dep * pow( 1 + r/12.0 , 12.0*t ); Then display the final amount. To earn full credit, comment your code well.

Supposedly, with a deposit of 1000, and 5% interest (0.05), for 10 years, you wind up with a balance of 1647.01. See if your program equals that! If not, see if you can find a flaw in the expression.

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

Data Mining Concepts And Techniques

Authors: Jiawei Han, Micheline Kamber, Jian Pei

3rd Edition

0123814790, 9780123814791

More Books

Students also viewed these Databases questions

Question

Discuss the various types of policies ?

Answered: 1 week ago

Question

Briefly explain the various types of leadership ?

Answered: 1 week ago

Question

Explain the need for and importance of co-ordination?

Answered: 1 week ago

Question

Explain the contribution of Peter F. Drucker to Management .

Answered: 1 week ago

Question

Th eir solution was to give me a long-distance number to call.

Answered: 1 week ago