You are required to create a C ++ program to calculate the amount that you need to deposit today to generate some amount for the next several years. For example, 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 RM10,000 in the account. How much do you need to deposit today to make that happen? You can use the following formula, which is known as the present value formula, to find out: F P = (1+ 100 • 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, F is RM10,000) • r is the annual interest rate. • n is the number of years that you plan to let the money sit in the account. (a) Identify the input, output and process required to solve this problem. (b) Write a function named presentValue that performs this calculation. The function should accept the future value, annual interest rate, and number of years as arguments. It should return the present value, which is the amount that you need to deposit today.

You are required to create a C ++ program to calculate the amount that you need to deposit today to generate some amount for the next several years. For example, 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 RM10,000 in the account. How much do you need to deposit today to make that happen? You can use the following formula, which is known as the present value formula, to find out: F P = (1+ 100 • 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, F is RM10,000) • r is the annual interest rate. • n is the number of years that you plan to let the money sit in the account. (a) Identify the input, output and process required to solve this problem. (b) Write a function named presentValue that performs this calculation. The function should accept the future value, annual interest rate, and number of years as arguments. It should return the present value, which is the amount that you need to deposit today.

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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