Question

please follow the instruction ( very important )

1912275-dt content-rid 43901523 1/courses/CSct A31. (25 pts) You must use a tor loop in the following program Write, compile, debug, and run a program that will use a for loop to do the following Some investments compound interest. This means that the interest is added onto the balance periodically during the year, and the next interest is calculated on this larger balance. This makes the actual return on investment actually greater than just applying the interest rate to just the original investment. The formula for calculating annual compound interest that you must use in this program is shown below. You will have to translate this math formula into a C++ statement(s). (You may break the formula into mutiple C statements, but no credit will be given for the assignment if you use a different formula. V P(1+r/n)nt V Future Value: the investment with the compound interest P Principal: the original amount of money invested r-the annual interest rate in decimal form (ie, 5% is .05) n the number of times that interest is compounded per year t -the number of years the money has been invested for thus far Write a program that uses a loop to calculate and display the total balance at the end of each year, with the user entering only 3 things once, at the beginning of the program: the total number of years, the principal, and the interest rate. The use will enter the interest rate as the percentage without the % sign, i.e. 5, not .05, not 5%. It should be compounded weekly. The balance each year will be calculated as the original amount plus the compounded interest. For example, for 20 years, $1000 principal, and 5% interest rate, user enters 20, 1000, 5, and your program should display a table with two columns that look and start exactly like below. Show the balance with two decimal places. Balance is V. Calculate V each time using the formula, don't accumulate it.Don't changeP (Hint There are two variables related to years One holds the number of years that the user enters (don't overwite this one) The other one is a year counter that starts at 1 and increments unti it reaches the other one. Use this counter for display on each line and in the formula ) (Hint t is the year countor that changes each time through the loop) Here are the first 3 lines for this example: (there should be 20 lines displayed by your program for this example) Year 1 Balance 1051.25 Year 2 Balance 1105.12 Year 3 Balance 1161.75

Answer 1

CODE :

#include<iostream>
#include<cmath>
using namespace std;
int main()
{
   int p,t;
   float r;
   cout<<"Enter number of years (t): ";
   cin>>t;
   cout<<"Enter principal amount (p): ";
   cin>>p;
   cout<<"Enter rate of interest (r): ";
   cin>>r;
   cout<<endl;
   for(int i=1;i<=t;i++)
   {
       float v = p * pow((1+((r/100)/12)), (12*i));
       cout<<"Year "<<i<<" Balance = "<<v<<endl;
   }
  
   return 0;
}

OUTPUT :

C:\UsersiREDEEMERNDesktop\Intrest.exe Enter number of years (t) 20 Enter principal amount (p) 1000 Enter rate of interest (r): 5 ear 1 Balance1051.16 ear 2 Balance1104.94 ear 3 Balance = 1161.48 ear 4 Balance = 1220.9 ear 5 Balance = 1283.36 ear 6 Balance = 1349.03 ear 7 Balance = 1418.05 ear 8 Balance = 1490.6 ear 9 Balance = 1566.86 ear 10 Balance = 1647.03 ear 11 Balance1731.29 ear 12 Balance1819.87 ear 13 Balance = 1912.98 ear 14 Balance = 2010.85 ear 15 Balance = 2113.73 ear 16 Balance = 2221.88 ear 17 Balance = 2335.56 ear 18 Balance = 2455.05 ear 19 Balance = 2580.66 ear 20 Balance = 2712.69 Process exited after 5.058 seconds with return value e Press any key to continue .. .