Starting Out With C++: Early Objects (10th Edition)
10th Edition
ISBN: 9780135235003
Author: Tony Gaddis, Judy Walters, Godfrey Muganda
Publisher: PEARSON
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Textbook Question
Chapter 6, Problem 11PC
Present Value
Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen? To find out you can use the following formula, which is known as the present value formula:
The terms in the formula are as follows:
- P is the present value, or the amount that you need to deposit today.
- F is the future value that you want in the account (in this case, $10,000).
- r is the annual interest rate (expressed in decimal form, such as .042).
- n is the number of years that you plan to let the money sit in the account.
Write a
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Interest Rates Savings accounts state an interest rate and a compounding period. If theamount deposited is P, the stated interest rate is r, and interest is compounded m timesper year, then the balance in the account after one year is P⋅(1+rm)m. For instance, if$1000 is deposited at 3% interest compounded quarterly (that is, 4 times per year), thenthe balance after one year is1000⋅(1+.034)4=1000⋅1.00754=$1,030.34.Interest rates with different compounding periods cannot be compared directly.The concept of APY (annual percentage yield) must be used to make the comparison. TheAPY for a stated interest rate r compounded m times per year is defined byAPY=(1+rm)m−1.(The APY is the simple interest rate that yields the same amount of interest after oneyear as the compounded annual rate of interest.) Write a program to compare interestrates offered by two different banks and determine the most favorable interest rate. SeeFig. 4.24.
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Chapter 6 Solutions
Starting Out With C++: Early Objects (10th Edition)
Ch. 6.2 - Use the following information to answer questions...Ch. 6.2 - Use the following information to answer questions...Ch. 6.2 - Prob. 6.3CPCh. 6.2 - Use the following information to answer questions...Ch. 6.2 - Use the following information to answer questions...Ch. 6.2 - Use the following information to answer questions...Ch. 6.5 - Indicate which of the following is the function...Ch. 6.5 - A) Write the function header for a function named...Ch. 6.5 - What is the output of the following program?...Ch. 6.5 - The following program skeleton asks for the number...
Ch. 6.9 - How many return values may a function have?Ch. 6.9 - Write a header for a function named distance. The...Ch. 6.9 - Write a header for a function named days. The...Ch. 6.9 - Prob. 6.14CPCh. 6.9 - Write a header for a function named lightYears....Ch. 6.11 - What is the difference between a static local...Ch. 6.11 - Prob. 6.17CPCh. 6.11 - Prob. 6.18CPCh. 6.13 - Prob. 6.19CPCh. 6.13 - Write the prototype and header for a function...Ch. 6.13 - Write the prototype and header for a function...Ch. 6.13 - What is the output of the following program?...Ch. 6.13 - The following program asks the user to enter two...Ch. 6.15 - Is it required that overloaded functions have...Ch. 6.15 - What is the output of the following program code?...Ch. 6.15 - What is the output of the following program code?...Ch. 6 - The ____ is the part of a function definition that...Ch. 6 - If a function doesnt return a value, the word...Ch. 6 - If function showValue has the following header:...Ch. 6 - Either a functions ____ or its ____ must precede...Ch. 6 - Values that are sent into a function are called...Ch. 6 - Special variables that hold copies of function...Ch. 6 - When only a copy of an argument is passed to a...Ch. 6 - A(n)_____ eliminates the need to place a function...Ch. 6 - A(n)_____ variable is defined inside a function...Ch. 6 - ____ variables are defined outside all functions...Ch. 6 - _____ variables provide an easy way to share large...Ch. 6 - Unless you explicitly initialize numeric global...Ch. 6 - If a function has a local variable with the same...Ch. 6 - ______ local variables retain their value between...Ch. 6 - The _____ statement causes a function to end...Ch. 6 - ______ arguments are passed to parameters...Ch. 6 - When a function uses a mixture of parameters with...Ch. 6 - Prob. 18RQECh. 6 - When used as parameters, _______ variables allow a...Ch. 6 - Reference variables are defined like regular...Ch. 6 - Reference variables allow arguments to be passed...Ch. 6 - The ________ function causes a program to...Ch. 6 - Two or more functions may have the same name, as...Ch. 6 - What is the advantage of breaking your...Ch. 6 - What is the difference between an argument and a...Ch. 6 - When a function accepts multiple arguments, does...Ch. 6 - What does it mean to overload a function?Ch. 6 - If you are writing a function that accepts an...Ch. 6 - Give an example of where an argument should he...Ch. 6 - How do you return a value from a function?Ch. 6 - Prob. 31RQECh. 6 - Prob. 32RQECh. 6 - The following statement calls a function named...Ch. 6 - A program contains the following function, int...Ch. 6 - Write a function, named timesTen, that accepts an...Ch. 6 - A program contains the following function. void...Ch. 6 - Write a function named getNumber, which uses a...Ch. 6 - Write a function named biggest that receives three...Ch. 6 - Prob. 39RQECh. 6 - Markup Write a program that asks the user to enter...Ch. 6 - Celsius Temperature Table The formula for...Ch. 6 - Falling Distance The following formula can be used...Ch. 6 - Kinetic Energy In physics, an object that is in...Ch. 6 - Winning Division Write a program that determines...Ch. 6 - Shipping Charges The Fast Freight Shipping Company...Ch. 6 - Prob. 7PCCh. 6 - Lowest Score Drop Write a program that calculates...Ch. 6 - Star Search A particular talent competition has...Ch. 6 - isPrime Function A prime number is an integer...Ch. 6 - Present Value Suppose you want to deposit a...Ch. 6 - Future Value Suppose you have a certain amount of...Ch. 6 - Stock Profit The profit from the sale of a stock...Ch. 6 - Multiple Stock Sales Use the function that you...Ch. 6 - Order Status The Middletown Wholesale Copper Wire...Ch. 6 - Overloaded Hospital Write a program that computes...Ch. 6 - Population In a population, the birth rate is the...Ch. 6 - Transient Population Modify Programming Challenge...Ch. 6 - Using FilesHospital Report Modify Programming...Ch. 6 - Group Project 20. Using FilesTravel Expenses This...
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