Starting Out with C++: Early Objects (9th Edition)
9th Edition
ISBN: 9780134400242
Author: Tony Gaddis, Judy Walters, Godfrey Muganda
Publisher: PEARSON
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Chapter 3, Problem 20PC
Interest Earned
Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as
• Where Principal is the balance in the account
• Rate is the annual interest rate,
• T is the number of times the interest is compounded during a year (e.g., T is 4 if the interest is compounded quarterly).
Write a
Interest Rate: 4.25%
Times Compounded: 12
Principal: $ 1000 .00
Interest: $ 43 .33
Final balance: $ 1043.33
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Chapter 3 Solutions
Starting Out with C++: Early Objects (9th Edition)
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