Absolute C++
6th Edition
ISBN: 9780133970784
Author: Walter Savitch, Kenrick Mock
Publisher: Addison-Wesley
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Chapter 2, Problem 2PP
You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of per year (1.5% per month), and monthly payments of $50.
The monthly payment of $50 is used to pay the interest, and whatever is left is used to pay part of the remaining debt. Hence, the first month you pay 1.5% of $1,000 in interest. That is $15 in interest. The remaining $35 is deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of 1.5% of $965.00, which is $14.48. Hence, you can deduct $35.52 (which is $50 - $14.48) from the amount you owe.
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Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalance is the balance shown in the bill, payment is the payment made, d1 is the number of days in the billing cycle, and d2 is the number of days payment is made before billing cycle. Then, the average daily balance is:
averageDailyBalance =netBalance x d1-payment x d2d1
If the interest rate per month is, say, 0.0152, then the interest on the unpaid balance is:
Interest= averageDailyBalance * 0.0152
Write a program using c++ compiler that accepts as inputnetBalance, payment, d1,d2, and interest rate per month. The program outputs the interest. Format your output to two decimal places.
Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalanceis the balance shown in the bill, paymentis the payment made, d1is the number of days in the billing cycle, and d2is the number of days payment is made before the billing cycle. Then the average daily balance is:
averageDailyBalance = (netBalance * d1 –payment * d2) / d1
if the interest rate per month is say, 0.0152, then the interest on the unpaid balanceis:
interest = averageDailyBalance * 0.0152
Design a program that accepts as input netBalance, payment, d1, d2, and interest rate per month. The program outputs the interest charged. Format your output to two decimal places.
C++
Chapter 2 Solutions
Absolute C++
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