Write C++ program for a compound interest calculator.
Ask the user for dep = initial deposit r = interest rate expressed as a fraction (example: .06) t = years If we assume that the money is compounded on a monthly basis, the formula is: double final = dep * pow( 1 + r/12.0 , 12.0*t ); Then display the final amount. To earn full credit, comment your code well.
Supposedly, with a deposit of 1000, and 5% interest (0.05), for 10 years, you wind up with a balance of 1647.01. See if your program equals that! If not, see if you can find a flaw in the expression.
ANSWER: Here I am giving you the code and output if you have any problem then comment or like it please.
CODE:
#include<iostream>
#include<math.h>
using namespace std;
int main()
{
float dep,r,t;
double final ;
cout<<"Enter initial deposit, interest rate and
Time: ";
cin>>dep>>r>>t;
final =dep*pow( (1 + r/12.0 ), 12.0*t ); //
Calculating the compound interest.
cout<<" Compound Interest = "<<final
;
return 0;
}
OUTPUT:
Write C++ program for a compound interest calculator. Ask the user for dep = initial deposit...
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