Chapter 2, Problem 13PE

(Financial application: compound value) Suppose you save $\text{\$100}$ each month into a savings account with the annual interest rate $5\%.$ Thus, the monthly interest rate is $0.05/12=\mathrm{0.00417.}$ After the first month, the value in the account becomes

$\begin{array}{l}100*(1+0.00417)=100.417\\ \text{After the second month, the value in the account becomes}\\ (100+100.417)*(1+0.00417)=201.252\\ \text{After the third month, the value in the account becomes}\\ (100+201.252)*(1+0.00417)=302.507\\ \text{and so on}\text{.}\end{array}$

Write a program that prompts the user to enter a monthly saving amount and displays the account value after the sixth month. (In Programming Exercise 5.32, you will use a loop to simplify the code and display the account value for any month.)