Question

Write a program to calculate the amount of money in an account:

The user will input initial deposit and the number of years to leave that money in the account.

The interest is constant at 0.5% for the entire length of time.

The output will be the balance, with interest compounded annually.

(simple interest formula: interest = principal * rate)

1. What variables will you need to complete the program?
   
   
   
   
   
   
2. What “controls” will you need for the program?
   
   
   
   
   
   
   
3. What formula will you use? (give to you already!)
   
   
   
   
   
   
   
   
4. Make the program user friendly!! (ideas for that?)

Answer 1

Program:-

#include <stdio.h>
#include <math.h>
main(){
   float p,r,a;
   int n,t;
   printf("Enter initial deposit: ");
   scanf("%f",&p);
   printf("Enter No of years: ");
   scanf("%d",&t);
   n = 1; //Since interest compounded annually
   r = 0.005; // rate = 0.5/100
   a = p * pow((1 + (r/n)),(n * t)); // FORMULA:- A = P*((1 + r/n) ^ n*t)
   printf("Money: %0.2f",a);   
}

Variables Needed:-

p -> Initial deposit

r -> annual interest rate

n -> no of times interest compounded in an year

t -> time

a -> final amount

FORMULA:-

A = p * ((1 + n/t) ^ n*t)

OUTPUT:-

If you have any doubts , comment below. THANK YOU!!! Please rate the answer