Chapter 2, Problem 2.13PE

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

100 * (1 + 0.00417) = 100.417

After the second month, the value in the account becomes

(100 + 100.417) * (1 + 0.00417) = 201.252

After the third month, the value in the account becomes

(100 + 201.252) * (1 + 0.00417) = 302.507

and so on.

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 5.30, you will use a loop to simplify the code and display the account value for any month.)