Question

In Visual Studio

Investment Recursion An investment company guarantees a 2% monthly compounded return on your investment. You want to see how long it takes to reach a total of S500.000 dollars in investment plus return. Write a program that allows the user to enter a continuous monthly investment (Example $200 every month) or ($600 every The program should call a recursive method that returns and displays the total months needed to reach the $500,000 dollar goal. Example-At the 2% compounded monthly rate, and a S400 continuous monthly investment, the first month the user makes S8 interest and has $408.00 dollars, the second month the user adds $400 and makes $16.16 interest and now has $824.16, the third month the user adds S400 and makes $24.48 in interest and now has $1,248.64 dollars, etc. Display how many total months it takes the user to reach the $500,000 dollar goal. Remember, the user should be able to input the continuous monthly investment The rate is always 2% and compounded monthly. The final date/time to submit this assignment is Friday, April 19th at midnight.

Visual studio C++

Answer 1

Code

#include<iostream> #include <math.h> using namespace std; int main(){    float CI, investAmount, amount,x; int rate = 2; int counter; amount = 0; cout << "Enter Continuous Monthly Investment : "; cin >> investAmount; //counter to count number of months counter = 0;    //run loop till the amount reaches $500000 while(amount<500000){    //add Monthly invesment to Principal amount amount = amount + investAmount; //Calculate total compound Amount x = amount*pow((1.0+rate/100.), 1);    CI = x - amount; cout << "You made Intrest Of $" << CI <<" This Month\n"; //set compound Amount as New Amount amount = x; cout<<"You Now have $" << amount << "\n";    //increase Month Counter in each iteration counter++; } cout<<" Total time to reach $500,000 will be " <<counter<<" months"; return 0; }

OUTPUTS

Enter Continuous Monthly Investment 400 ou made Intrest of $8 This Month You Now have $408 You made Intrest of $16.16 This Month You Now have $824.16 You made Intrest of $24.4832 This Month You Now have $1248.64 You made Intrest of $32.9729 This Month You Now have $1681.62 You made Intrest of $41.6323 This Month You Now have $2123.25 You made Intrest of $50.4651 This Month You Now have $2573.71

You Now have $464506 You made Intrest of $9298.12 This Month You Now have $474204 You made Intrest of $9492.09 This Month You Now have $484096 You made Intrest of $9689.94 This Month You Now have $494186 You made Intrest of $9891.72 This Month You Now have $504478 Total time to reach $500,000 will be 164 months