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  1. //Renee V. Lopez                  CS1A                               Chapter 3, Pg.146, #16
  2. /******************************************************************************* 
  3.  * CALCULATE COMPOUND INTEREST
  4.  * _____________________________________________________________________________
  5.  * This program calculates the total amount in a savings account and the interest
  6.  * earned after compounding based on user input for the principal, interest rate, 
  7.  * and number of times the interest is compounded per year.
  8.  *******************************************************************************/
  9. #include <iostream>
  10. #include <iomanip>
  11. #include <cmath>
  12. using namespace std;
  13.  
  14. int main () {
  15.     // Declare variables to hold user inputs and results
  16.     float interestRate;       // Annual interest rate as a percentage
  17.     float timesCompounded;    // Number of times interest is compounded per year
  18.     float principal;          // Initial amount in the savings account
  19.     float interest;           // Used for storing intermediate interest calculation
  20.     float amountinSavings;    // Final amount after adding interest
  21.     float interestEarned;     // Total interest earned
  22.  
  23.     // Gather input from user
  24.     cout << "Enter the Interest Rate (in percentage): " << endl;
  25.     cin >> interestRate;
  26.     cout << "Enter the number of times interest is compounded per year: " << endl;
  27.     cin >> timesCompounded;
  28.     cout << "Enter the initial principal amount: " << endl;
  29.     cin >> principal;
  30.  
  31.     // Perform calculations
  32.     interestRate /= 100;  // Convert interest rate to decimal
  33.     interest = 1 + (interestRate / timesCompounded);  // Calculate interest factor
  34.     amountinSavings = principal * pow(interest, timesCompounded);  // Final amount in savings
  35.     interestEarned = amountinSavings - principal;  // Calculate interest earned
  36.  
  37.     // Display results with appropriate formatting
  38.     cout << fixed << setprecision(2);
  39.     cout << "Interest Earned: $" << interestEarned << endl;
  40.     cout << "Total Amount in Savings: $" << amountinSavings << endl;
  41.  
  42.     return 0;
  43.  
  44. }
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Enter the Interest Rate (in percentage): 
Enter the number of times interest is compounded per year: 
Enter the initial principal amount: 
Interest Earned: $50.95
Total Amount in Savings: $1050.95
https://ideone.com/JV3nL5
intrest
language:
C++ (gcc 8.3)
created:
5 days ago
visibility:
public

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