Interest Earned Assuming there are no deposits other than the original invest...
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
where Principal is the balance in the account, Rate is the annual interest rate, and T is the number of times the interest is compounded during a year (e.g., 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 the following:
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