Question

The interest rate used on funds deposited in a bank is delermined by the amount of time the money is left on deposit. For a particular bank the Following schedule is used. Time on deposit Greater than or equal to 0.0475 Syears Less than years but greater than or equal to 4 years O. 045 Less than 4 years but greater than or equal to Byears 0.040 Less than 3 years but greater than or equal to 2 years less than 2 years but greater than or equal 0-035 to a year 0 - 030 Less than 1 year 0.025

in C++

Answer 1

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Program

#include<iostream>
using namespace std;
int main()
{
   //Declare variables
   double int_rate,time;
  
   //Read input from user
   cout<<"Enter number of years the money is deposited: ";
   cin>>time;

   //Calculate interest rate
   if (time >= 5)
        int_rate=.0475;
   else if ((time >= 4) && (time <= 5))
   int_rate=.045;
   else if ((time >= 3) && (time <= 4))
   int_rate=.040;
   else if ((time >= 2) && (time <= 3))
   int_rate=.035;
   else if ((time >= 1) && (time <= 2))
   int_rate=.030;
   else
       int_rate=.025;

   //Display output
   cout<<"Time : "<<time<<" years."<<endl;
   cout<<"Interest Rate : "<<int_rate<<endl;
   return 0;
}

Output

Enter number of years the money is deposited: 2.3
Time : 2.3 years.
Interest Rate : 0.035

Enter number of years the money is deposited: 6.7
Time : 6.7 years.
Interest Rate : 0.0475