Question

User asks you to develop a program that calculates and then prints interest earned on a bank balance. Program should print interest earned for the same balance when interest is accumulated annually, semiannually and quarterly. I need the C++ code!

Answer 1

C++ program Code for the given problem is provided below, please comment if any doubts:

#include <iostream>

using namespace std;

int main()
{
   //declare the variables
   float In, ra, Amt, yr;

   //Read the amount
   cout<<"Enter the amount balance: ";
   cin>>Amt;

   //Read annual interest rate
   cout<<"Enter the annual interest rate: ";
   cin>>ra;

   //Read year number
   cout<<"Enter the number of years: ";
   cin>>yr;

   //calculate and print interst earned for
   //annual interst accumulation
   In= Amt*(pow((1+(ra/100)), yr));
   cout<<"Interest earned on annual accumulation is: ";
   cout<<In-Amt<<endl;

   //calculate and print interst earned for
   //semi-annual interst accumulation
   In= Amt*(pow((1+(ra/(2*100))), (2*yr)));
   cout<<"Interest earned on semi-annual accumulation is: ";
   cout<<In-Amt<<endl;

   //calculate and print interst earned for
   //quarterly interst accumulation
   In= Amt*(pow((1+(ra/(4*100))), (4*yr)));
   cout<<"Interest earned on quarterly accumulation is: ";
   cout<<In-Amt<<endl;

   //
   //system("pause");
   return 0;
}

Sample Run: