Concept explainers
Interest Earned
Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as
• Where Principal is the balance in the account
• Rate is the annual interest rate,
• T is the number of times the interest is compounded during a year (e.g., T is 4 if the interest is compounded quarterly).
Write a
Interest Rate: 4.25%
Times Compounded: 12
Principal: $ 1000 .00
Interest: $ 43 .33
Final balance: $ 1043.33
Want to see the full answer?
Check out a sample textbook solutionChapter 3 Solutions
Starting Out with C++: Early Objects (9th Edition)
Additional Engineering Textbook Solutions
Management Information Systems: Managing The Digital Firm (16th Edition)
Computer Science: An Overview (13th Edition) (What's New in Computer Science)
Starting Out with Programming Logic and Design (5th Edition) (What's New in Computer Science)
Java: An Introduction to Problem Solving and Programming (8th Edition)
Introduction To Programming Using Visual Basic (11th Edition)
Starting Out With Visual Basic (8th Edition)
- (Statistics) This is the formula for the standard normal deviate, z, used in statistical applications: z=(X)/ X is a single value. refers to an average value. refers to a standard deviation. Using this formula, you need to write a program that calculates and displays the value of the standard normal deviate when X=85.3,=80,and=4. a. For this programming problem, how many outputs are required? b. How many inputs does this problem have? c. Determine a formula for converting input items into output items. d. Test the formula written for Exercise 7c, using the data given in the problem.arrow_forward4. During each summer, John and Jessica grow vegetables in their backyard and buy seeds and fertilizer from a local nursery. The nursery carries different types of vegetable fertilizers in various bag sizes. When buying a particular fertilizer, they want to know the price of the fertilizer per pound and the cost of fertilizing per square foot. The following program prompts the user to enter the size of the fertilizer bag, in pounds, the cost of the bag, and the area, in square feet, that can be covered by the bag. The program should output the desired result. However, the program contains logic errors. Find and correct the logic errors so that the program works properly. // Logic errors. #include #include using namespace std; int main() { double costs double area; double bagsize; cout > bagsize; cout > cost; cout > area; cout << endl; cout << "The cost of the fertilizer per pound is: $" << bagsize / cost << endl; cout << "The cost of fertilizing per square foot is: $" << area / cost << endl; return 0; }arrow_forwardWhen you borrow money to buy a house, a car, or for some other purpose, you repay the loan by making periodic payments over a certain period of time. Of course, the lending company will charge interest on the loan. Every periodic payment consists of the interest on the loan and the payment toward the principal amount. To be specific, suppose that you borrow $1,000 at an interest rate of 7.2% per year and the payments are monthly. Suppose that your monthly payment is $25. Now, the interest is 7.2% per year and the payments are monthly, so the interest rate per month is 7.2/12 = 0.6%. The first months interest on $1,000 is 1000 0.006 = 6. Because the payment is $25 and the interest for the first month is $6, the payment toward the principal amount is 25 6 = 19. This means after making the first payment, the loan amount is 1,000 19 = 981. For the second payment, the interest is calculated on $981. So the interest for the second month is 981 0.006 = 5.886, that is, approximately $5.89. This implies that the payment toward the principal is 25 5.89 = 19.11 and the remaining balance after the second payment is 981 19.11 = 961.89. This process is repeated until the loan is paid. Write a program that accepts as input the loan amount, the interest rate per year, and the monthly payment. (Enter the interest rate as a percentage. For example, if the interest rate is 7.2% per year, then enter 7.2.) The program then outputs the number of months it would take to repay the loan. (Note that if the monthly payment is less than the first months interest, then after each payment, the loan amount will increase. In this case, the program must warn the borrower that the monthly payment is too low, and with this monthly payment, the loan amount could not be repaid.)arrow_forward
- (Simulation) Write a program to simulate the roll of two dice. If the total of the two dice is 7 or 11, you win; otherwise, you lose. Embellish this program as much as you like, with betting, different odds, different combinations for win or lose, stopping play when you have no money left or reach the house limit, displaying the dice, and so forth. (Hint: Calculate the dots showing on each die with the expression dots=(int)(6.0randomnumber+1), where the random number is between 0 and 1.)arrow_forwardMETHODOLOGY A bookstore owner wants you to write a program that calculates the gross pay of an employee. The input to the program is the number of hours the employee works in one week and the employee’s hourly pay rate. The program is to calculate the employee’s gross pay including the possibility of overtime pay. Regular pay is the number of hours the employee worked (up to 40 hours) times the hourly rate. The program is to compute an overtime pay if the employee worked more than 40 hours. All hours beyond 40 should be multiplied to 1.5 for the OT differential pay The program should output the worker’s regular pay, overtime time, and the gross pay (sum of the regular pay and overtime pay). Create an IPO and flowchartarrow_forwardPROGRAM DESCRIPTION John dela Cruz is interested in knowing how much his interest earning would be after some time. Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as: amount = principal * (1 + rate/m)" interest = amount - principal Principal is the balance in the savings account, rate is the interest rate (0 to 100), m is the number of times the interest is compounded during a year (m is either 1,2,3 or 4 if the interest is compounded quarterly) and nis the number of year., Write a program that asks for the borrower's lastname, borrower's first name, borrower's middle name, civil status (Single, Married, Widow), principal, the interest rate and the number of times the interest is compounded. Follow the format of the report provided in the example. OUTPUT Example 1 Enter the borrower's lastname : Enter the borrower's firstname : Enter the borrower's middle name: Enter civil status : Married Enter the…arrow_forward
- Box Office: A movie theater only keeps a percentage (20%) of the revenue earned from ticket sales. The remainder goes to the movie distributor. Write a program that calculates a theater’s gross and net box office profit for a night. The program should ask for the name of the movie, and how many adult and child tickets were sold. (The price of an adult ticket is $10.00 and a child’s ticket is $6.00.) Input: the name of the movie, number of adult tickets sold, number of child tickets sold Output: as specified below Object: cin, cout, getline, format output Note: 1. Movie names contain spaces 2, the report is aligned. 3. The decimal number is displayed with 2 decimal places.arrow_forwardsolve using paython language and take screenshot contains the codearrow_forwardProblem: A company wants a program that will calculate the weekly paycheck for an employee based on how many hours they worked. For this company, an employee earns $20 an hour for the first 40 hours that they work. The employee earns overtime, $30 an hour, for each hour they work above 40 hours. Example: If an employee works 60 hours in a week, they would earn $20/hr for the first 40 hours. Then they would earn $30/hr for the 20 hours they worked overtime. Therefore, they earned: ($20/hr 40hrs) + ($30/hr 20 hrs) = $800 + $600 = $1400 total. For this assignment, you must create pseudocode and a flowchart to design a program that will calculate an employee's weekly paycheck. . Write pseudocode to design a programming solution by outlining a series of steps and using appropriate indentation and keywords. As you write your pseudocode, be sure to consider the following: What input does the computer need? What steps does the program need to follow to process the input? What output should…arrow_forward
- pythonarrow_forwardINFS3410 Practice Questions Chapters 1, 2 and 3 The Following is an example run of an educational program for school children. The program help kids to practice their additions and subtraction skills. Your task is to develop a program that can achieve the same exact thing. Bear in mind the following important guidelines: - The user may choose between additions and subtractions - The user may choose the difficulty level (easy, medium, hard) - The program should display 5 questions and calculate the total score - No two questions should be the same Please enter your name: Hafedh AlShihi ************** Hello Hafedh AlShihi Welcome to our Additions / Subtractions Practice ****k********* Which operation you want to practice? Type 1 for Additions, or Type 2 for subtractions: 2 Please select your difficulty level Type 1 for Easy (numbers 1 to 10) Type 2 for Medium (numbers 10 to 100) Type 3 for Hard (numbers 100 to 1000) 1 Here are 5 easy-level subtraction questions, please attempt all: How…arrow_forwardبايثونarrow_forward
- C++ for Engineers and ScientistsComputer ScienceISBN:9781133187844Author:Bronson, Gary J.Publisher:Course Technology PtrC++ Programming: From Problem Analysis to Program...Computer ScienceISBN:9781337102087Author:D. S. MalikPublisher:Cengage Learning