If you know the balance and the annualpercentage interest rate, you can compute the interest on the next monthly paymentusing the following formula:interest = balance X (annualInterestRate/1200)Write a program that reads the balance and the annual percentage interest rate anddisplays the interest for the next month. Here is a sample run: Enter balance and interest rate (e.g., 3 for 3%): 1000 3.5 ↵EnterThe interest is 2.91667

C++ Programming: From Problem Analysis to Program Design
8th Edition
ISBN:9781337102087
Author:D. S. Malik
Publisher:D. S. Malik
Chapter5: Control Structures Ii (repetition)
Section: Chapter Questions
Problem 30PE
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If you know the balance and the annual
percentage interest rate, you can compute the interest on the next monthly payment
using the following formula:
interest = balance X (annualInterestRate/1200)
Write a program that reads the balance and the annual percentage interest rate and
displays the interest for the next month. Here is a sample run:

Enter balance and interest rate (e.g., 3 for 3%): 1000 3.5 ↵Enter
The interest is 2.91667

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