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Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? To find out you can use the following formula, which is known as the present value formula: P=F/ (1+r) " The terms in the formula are as follows: • Pis the present value, or the amount that you need to deposit today. • Fis the future value that you want in the account (in this case, $10,000). • ris the annual interest rate (expressed in decimal form, such as .042). n is the number of years that you plan to let the money sit in the account. Write a program with two functions presentValue (), difference() beside main(). presentValue() function should accept the future value, annual interest rate, and number of years as arguments. It should calculate and return the present value, which is the amount that you need to deposit today. difference() calculates the difference from future value to present value. It should accept the future value to present value as arguments. presentValue () is then called from main() and if the future amount is greater than the present amount called the difference() function. And within it also check if present amount is greater than 0.5 and accordingly display the values of present amount, future amount, and number of years. Otherwise, display the message “The deposit value is less than or equal to $ 0.5".

Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? To find out you can use the following formula, which is known as the present value formula: P=F/ (1+r) " The terms in the formula are as follows: • Pis the present value, or the amount that you need to deposit today. • Fis the future value that you want in the account (in this case, $10,000). • ris the annual interest rate (expressed in decimal form, such as .042). n is the number of years that you plan to let the money sit in the account. Write a program with two functions presentValue (), difference() beside main(). presentValue() function should accept the future value, annual interest rate, and number of years as arguments. It should calculate and return the present value, which is the amount that you need to deposit today. difference() calculates the difference from future value to present value. It should accept the future value to present value as arguments. presentValue () is then called from main() and if the future amount is greater than the present amount called the difference() function. And within it also check if present amount is greater than 0.5 and accordingly display the values of present amount, future amount, and number of years. Otherwise, display the message “The deposit value is less than or equal to $ 0.5".

Database System Concepts
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 want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? To find out you can use the following formula, which is known as the present value formula: P=F/ (1+r) " The terms in the formula are as follows: • Pis the present value, or the amount that you need to deposit today. • Fis the future value that you want in the account (in this case, $10,000). • ris the annual interest rate (expressed in decimal form, such as .042). n is the number of years that you plan to let the money sit in the account. Write a program with two functions presentValue (), difference() beside main(). presentValue() function should accept the future value, annual interest rate, and number of years as arguments. It should calculate and return the present value, which is the amount that you need to deposit today. difference() calculates the difference from future value to present value. It should accept the future value to present value as arguments. presentValue () is then called from main() and if the future amount is greater than the present amount called the difference() function. And within it also check if present amount is greater than 0.5 and accordingly display the values of present amount, future amount, and number of years. Otherwise, display the message “The deposit value is less than or equal to $ 0.5".
Transcribed Image Text:Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? To find out you can use the following formula, which is known as the present value formula: P=F/ (1+r) " The terms in the formula are as follows: • Pis the present value, or the amount that you need to deposit today. • Fis the future value that you want in the account (in this case, $10,000). • ris the annual interest rate (expressed in decimal form, such as .042). n is the number of years that you plan to let the money sit in the account. Write a program with two functions presentValue (), difference() beside main(). presentValue() function should accept the future value, annual interest rate, and number of years as arguments. It should calculate and return the present value, which is the amount that you need to deposit today. difference() calculates the difference from future value to present value. It should accept the future value to present value as arguments. presentValue () is then called from main() and if the future amount is greater than the present amount called the difference() function. And within it also check if present amount is greater than 0.5 and accordingly display the values of present amount, future amount, and number of years. Otherwise, display the message “The deposit value is less than or equal to $ 0.5".
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