Answered: C++ Fix this code so that it displays…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Question

C++

Fix this code so that it displays in the format like the image shown where the principal and rate should have a fixed precision of 2 for each of the five percentages 5%,6%,7%,8%,9%,10%. The amount of the deposit should not have the fixed precision and should remain in the decimal format.

#include <iostream>
#include <iomanip>
#include <cmath>
using namespace std;

int main()
{

double principal{ 1000 };
double rate{ 0.05 };

for (rate; rate <= 0.10; rate += 0.01) {
cout << "" << endl;
cout << "Initial principal: " << principal << endl;
cout << "Interest Rate: " << rate * 100 << "%" << endl;
cout << setw(4) << "Year" << setw(20) << "Amount on deposit" << endl;
for (unsigned int year{ 1 }; year <= 10; year++) {
double amount = principal * pow(1.0 + rate, year);

cout << setw(4) << year << setw(20) << amount << endl;

}
}
}

**Investment Growth Over Time**

The following table illustrates the growth of a deposit over a period of 10 years, with an initial principal of $1000 and an annual interest rate of 12%.

| **Year** | **Amount on Deposit** |
|----------|-----------------------|
| 1 | $1120.00 |
| 2 | $1254.40 |
| 3 | $1404.93 |
| 4 | $1573.52 |
| 5 | $1762.34 |
| 6 | $1973.82 |
| 7 | $2210.68 |
| 8 | $2475.96 |
| 9 | $2773.08 |
| 10 | $3105.85 |

**Explanation:**

- **Principal**: The initial amount of money deposited, which is $1000.
- **Rate**: The annual interest rate applied to the deposit, which is 12%.

Over the 10-year period, the deposit grows due to the effect of compound interest, significantly increasing the amount on deposit by the end of the period.

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