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Rate of Inflation
The annual rate of inflation is the rate at which money loses its value. For example, if the annual rate of inflation is 3.0 percent, then in one year it will cost $1,030 to buy the goods that could have been purchased for $1,000 today. Put another way, a year from now $1,000 will only buy 1/1.03 * $1,000, or $970.87, worth of goods. Two years from now, $1,000 will only buy only 1/1.03 of $970.87, or $942.59 worth of goods. Write a
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- When 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_forwardInterest 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++arrow_forwardA nutritionist who works for a fitness club helps members by evaluating their diets. As part of her evaluation, she asks members for the number of fat grams and carbohydrate grams that they consume in a day. Then, she calculates the number of calories that result from the fat using the following formula: Calories from fat = Fat grams × 9Next, she calculates the number of calories that result from the carbohydrates using the following formula: Calories from carbs = Carbs grams × 4Create an application that will make these calculations. In the application, you should have the following methods:• FatCalories–This method should accept a number of fat grams as an argument and return the number of calories from that amount of fat.• CarbCalories–This method should accept a number of carbohydrate grams as an argument and return the number of calories from that amount of carbohydrates.arrow_forward
- Python tic tac toe. Tic tac toe is a very popular game. Only two players can play at a time. Game Rules Traditionally the first player plays with "X". So you can decide who wants to go with "X" and who wants to go with "O". Only one player can play at a time. If any of the players have filled a square then the other player and the same player cannot override that square. There are only two conditions that may match will be a draw or may win. The player that succeeds in placing three respective marks (X or O) in a horizontal, vertical, or diagonal row wins the game. Winning condition Whoever places three respective marks (X or O) horizontally, vertically, or diagonally will be the winner. Submit your code and screenshots of your code in action. Hints : Have a function that draws the board Have a function that checks position if empty or not Have a function that checks player or won or not expected output:arrow_forwardPython tic tac toe. Tic tac toe is a very popular game. Only two players can play at a time. Game Rules Traditionally the first player plays with "X". So you can decide who wants to go with "X" and who wants to go with "O". Only one player can play at a time. If any of the players have filled a square then the other player and the same player cannot override that square. There are only two conditions that may match will be a draw or may win. The player that succeeds in placing three respective marks (X or O) in a horizontal, vertical, or diagonal row wins the game. Winning condition Whoever places three respective marks (X or O) horizontally, vertically, or diagonally will be the winner. Submit your code and screenshots of your code in action. Hints : Have a function that draws the board Have a function that checks position if empty or not Have a function that checks player or won or not expected output:arrow_forwardLeap Year: The earth doesn't take exactly 365 days to revolve around the sun and because of this we have leap years roughly every 4 years to make up the difference. The exact rule is: • Years divisible by 4 are leap years • except if they are also divisible by 100 and then they are not leap years (so 1900 was not a leap year), • unless they are also divisible by 400 and then they ARE leap years (so 2000 was a leap year). Part 1) Write a function in Python that takes as input a number, the year, and determines if it is a leap year or not. The function should return True if it is a leap year and False otherwise. Part 2) Write a main function to test out your leap year function on a few different illustrative inputs.arrow_forward
- Coin Exchange: Write a program that will determine how many coins of each denomination (50kr, 25kr, 10kr, Skr, and 1kr) are required to make up a given amount of change. For example, to make 57kr we could use 1 x 50kr, 1 x 5kr, and 2 x 1kr., It should be obvious that many combinations of coins are possible. For example, in the example above, we could make up 57kr with: (57 x 1kr) or (2 x 25kr and 7 x 1kr). However, your program must use the smallest number of coins (10 points). Example program output: Enter amount: 40 40 Kr = 1 x 25Kr 1х 10Кr 1 x 5Krarrow_forwardOne type of investment is where you make a single deposit (called the principal) and then let interest add to the balance amount in the account. In this situation, the balance in a savings account may be calculated with this formula: rate balance = principal(1+ ynt n where principal is the amount deposited rate is the yearly interest rate as a decimal (for example 0.045 is 4.5%) n is the number of times interest is compounded per year t is the number of years the money is left in the account As an example, if I deposit $450.00 at 1.2% interest, compounded twice a year, then at the end of 6 years, I should have a balance in the account of $483.49. That means my investment earned me $33.49 over the course of six years (not a good investment). Program specifications: Input: your program should ask the user for the amount of principal, the interest rate as a percent (like 1.2), the number of times interest is compounded per year, and the number of years that the investment will last.…arrow_forwardInterest 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 * d1 - payment * d2) / d1. The interest on the unpaid balance is: interest = averageDailyBalance * interestRate where interestRate is the interest rate per month. Write a program that accepts as input netBalance, payment, d1, d2, and interestRate. The program outputs the interest. Format your output to two decimal places. Analyze and design this program. Write the code, compile and run it. Upload your analysis and design document and your .cpp source code file here.arrow_forward
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