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 Amount = Principal *(1 + Rate T Principal is the balance in the savings account, Rate is the interest rate, and T is the number of times the interest is compounded during a year (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 Interest Rate: Times Compounded: 4.25% 12

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 Amount = Principal *(1 + Rate T Principal is the balance in the savings account, Rate is the interest rate, and T is the number of times the interest is compounded during a year (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 Interest Rate: Times Compounded: 4.25% 12

C++ for Engineers and Scientists

4th Edition

ISBN:9781133187844

Author:Bronson, Gary J.

Publisher:Bronson, Gary J.

Chapter5: Repetition Statements

Section: Chapter Questions

Problem 7PP

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