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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Chapter 6, Problem 12PC
Future Value
Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate the amount that you will have after a specific number of months. The formula, which is known as the future value formula, is:
The variables in the formula are as follows:
- F is the future value of the account after the specified time period.
- P is the present value of the account.
- i is the monthly interest rate.
- t is the number of months.
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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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