Question

a. Create the logic for a program that calculates and displays the amount of money you would have if you invested $5000 at 2 percent simple interest for one year. Create a separate method to do the calculation and return the result to be displayed.

b. Modify the program in Exercise 3a so that the main program prompts the user for the amount of money and passes it to the interest-calculating method.

c. Modify the program in Exercise 3b so that the main program also prompts the user for the interest rate and passes both the amount of money and the interest rate to the interest-calculating method. Write pseudocode. Submit only the final version of the program after you complete part c). Do not submit three different programs for this exercise.

Here's what I have so far...

Declarations
num balance
num PRINCIPAL = 5000
num INTEREST_RATE = 0.02
balance = PRINCIPAL * (1 + INTEREST_RATE)

Answer 1

`Hey,

Note: In case of any queries, just comment in box I would be very happy to assist all your queries

a)
   amount = 5000
   rate = 2
   year = 1

   interest = calculateInterest(amount, rate, year);

   finalAmount = amount + interest

   ###### function ######
   calculateInterest(amount, rate, year):
       interest = (amount*rate*year)/100;
       return interest

b)
   amount <- enter amount
   rate = 2
   year = 1

   interest = calculateInterest(amount, rate, year);

   finalAmount = amount + interest

   ###### function ######
   calculateInterest(amount, rate, year):
       interest = (amount*rate*year)/100;
       return interest

c)

#include <iostream>
using namespace std;

// function defination
double calculateInterest(double amount, double rate, int year);

int main(){

   double amount, rate;
   int year = 1;

   cout<<"Enter amount: ";
   cin>>amount;

   cout<<"Enter rate: ";
   cin>>rate;

   // calling method
   double interest = calculateInterest(amount, rate, year);

   cout<<"Amount after 1 year: "<<(amount+interest)<<endl;

   return 0;
}

// function calculation
double calculateInterest(double amount, double rate, int year){

   return (amount*rate*year)/100.0;
}

→ secondweek → secondweek g++ simpleinterest.cpp → secondweek Sa.out Enter amount: 50000 Enter rate: 2 Amount after 1 year: 51000 → secondweek

Kindly revert for any queries

Thanks.