C++ Savings Account Programming assignment

September 6, 2010 at 11:20:57
Specs: Windows Vista
I need help with creating this program in C++. It's a basic savings account program. We have to use the formulas for simple interest: A=P(1+TR), compound interest: A=P[1+R/N]^NT, and continuously compounded interest: A = Pe^RT = P(1+TR(eff) (e^RT-1)/T = R(eff). Where P=Principal (starting balance), A=Final Balance, R=Simple interest rate, N=number of times compounded per year, and T=number of years invested. We have to use simple commands; no global constants. And i know we have to use "double" data type for all variables. Any info would help, i just can't figure out even where to start???

Here's what the output is supposed to look like:

Input the starting balance: 1000 <----(this is what you enter)
1000
Input the interest rate (Ex: 5 for 5%): 5 <----(enter)
5
Input the number of years: 10 <-----(enter)
10
(the rest pops up automatically)
For a principal of $1000.00 at an interest rate of 5.00% for a period of 10.00 years, the final account balance would be

Simple Interest:
Balance = $1500.00

Compounded Monthly:
Balance = $1647.01
The effective simple interest rate: 6.47%
Balance using simple interest at the effective rate = $1647.01

Compounded Daily:
Balance = $1648.66
The effective simple interest rate: 6.49%
Balance using simple interest at the effective rate = $1648.66

Compounded Continuously:
Balance = $1648.72
The effective simple interest rate: 6.49%
Balance using simple interest at the effective rate = $1648.72


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#1
September 6, 2010 at 14:23:15
We will not do your homework for you. Post what code you have & we'll help.

i just can't figure out even where to start???

Create the inputs first, get it to print out just the numbers you've typed in, after, put in the formulas one at a time.


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