Concept explainers
When you borrow money to buy a house, a car, or for some other purpose, you repay the loan by making periodic payments over a certain period of time. Of course, the lending company will charge interest on the loan. Every periodic payment consists of the interest on the loan and the payment toward the principal amount. To be specific, suppose that you borrow $1,000 at an interest rate of 7.2% per year and the payments are monthly. Suppose that your monthly payment is $25. Now, the interest is 7.2% per year and the payments are monthly, so the interest rate per month is 7.2/12 = 0.6%. The first month’s interest on $1,000 is 1000 × 0.006 = 6. Because the payment is $25 and the interest for the first month is $6, the payment toward the principal amount is 25 — 6 = 19. This means after making the first payment, the loan amount is 1,000 — 19 = 981. For the second payment, the interest is calculated on $981. So the interest for the second month is 981 × 0.006 = 5.886, that is, approximately $5.89. This implies that the payment toward the principal is 25 — 5.89 = 19.11 and the remaining balance after the second payment is 981 — 19.11 = 961.89. This process is repeated until the loan is paid. Write a
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C++ Programming: From Problem Analysis to Program Design
- Fergusonball players are given a star rating based on the number of points that they score and the number of fouls that they commit. Specifically, they are awarded 5 stars for each point scored, and 3 stars are taken away for each foul committed. For every player, the number of points that they score is greater than the number of fouls that they commit. Your job is to determine how many players on a team have a star rating greater than 40. You also need to determine if the team is considered a gold team which means that all the players have a star rating greater than 40. Input Specification The first line of input consists of a positive integer N representing the total number of players on the team. This is followed by a pair of consecutive lines for each player. The first line in a pair is the number of points that the player scored. The second line in a pair is the number of fouls that the player committed. Both the number of points and the number of fouls, are non-negative integers.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forward
- The National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forward
- The National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forward
- Suppose you are an astrologer and you are predicting the zodiac sign of the customer using month and date of the birth given by the user. Conditions to predict the zodiac sign are given in the following table: Zodiac Sign From - To December 22 - January 19 January 20 - February 17 February 18 - March 19 March 20 - April 19 Capricorn Aquarius Pisces Aries April 20 - May 20 May 21 - June 20 June 21- July 22 July 23 - August 22 August 23 - September 22 September 23 - October 22 October 23 - November 21 Taurus Gemini Cancer Leo Virgo Libra Scorpio Sagittarius November 22 - December 21 Write a C program for the above scenario using if statement.arrow_forwardThe National Bank of Erehwon handles money and maintains bank accounts on behalf of clients. A client is a person who does business with the bank. A client may have any number of accounts, and an account may belong to multiple clients (e.g., spouses, business partners). The client record is used for identification and contact data. For each account, the bank maintains the current balance on hand. Clients are identified by a five digit number starting with 10001. Accounts are identified by a seven digit number starting with 1000001. When an account is first opened, its balance is set to zero. During the course of day-to-day business, Erehwon Bank applies transactions to accounts, including deposits, withdrawals, bill payments, and debit purchases or returns. For each transaction, the date and time, amount, and account are recorded, along with reference data applicable to that type of transaction: Deposits and withdrawals require the branch number to be recorded.…arrow_forwardInterest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalance is the balance shown in the bill, payment is the payment made, d1 is the number of days in the billing cycle, and d2 is the number of days payment is made before billing cycle. Then, the average daily balance is: averageDailyBalance =netBalance x d1-payment x d2d1 If the interest rate per month is, say, 0.0152, then the interest on the unpaid balance is: Interest= averageDailyBalance * 0.0152 Write a program using c++ compiler that accepts as inputnetBalance, payment, d1,d2, and interest rate per month. The program outputs the interest. Format your output to two decimal places.arrow_forward
- C++ Programming: From Problem Analysis to Program...Computer ScienceISBN:9781337102087Author:D. S. MalikPublisher:Cengage Learning