Suppose you save $100 each monthin a savings account with annual interest rate 3.75%. The monthly interest rateis 0.0375 / 12 = 0.003125. After the first month, the value in the accountbecomes100 * (1 + 0.003125) = 100.3125After the second month, the value in the account becomes100 + 100.3125) * (1 + 0.003125) = 200.938After the third month, the value in the account becomes(100 + 200.938) * (1 + 0.003125) = 301.878and so on.Write a program that prompts the user to enter an amount (e.g., 100), the annualinterest rate (e.g., 3.75), and the number of months (e.g., 6) and displays theamount in the savings account after the given month.

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
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Suppose you save $100 each month
in a savings account with annual interest rate 3.75%. The monthly interest rate
is 0.0375 / 12 = 0.003125. After the first month, the value in the account
becomes
100 * (1 + 0.003125) = 100.3125
After the second month, the value in the account becomes
100 + 100.3125) * (1 + 0.003125) = 200.938
After the third month, the value in the account becomes
(100 + 200.938) * (1 + 0.003125) = 301.878
and so on.
Write a program that prompts the user to enter an amount (e.g., 100), the annual
interest rate (e.g., 3.75), and the number of months (e.g., 6) and displays the
amount in the savings account after the given month.

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