A13

Assignment 13: Compound Interest II

Description

One of the services banks typically provide to prospective customers is the ability show the customers how their investment will grow over a set numbers of years at a specific interest rate.

Task

Using the formula below, create a program that allows the user to enter the initial investment P(principal), an interest rate R, the numbers of years T to accumulate the interest and the number of times the interest will be compounded per year, N. Display how much money is in the account A after each year up until the Tth year. Output should look as follows

Year 1: $10000.00

Year 2: $10228.00

...

Year T: $1.........00

Hint: Don't let the formula scare you. Translate to C# and use a loop where the loop variable is use to control the current year up to year T

• 1. Post a screen capture of your program being executed a couple of times.

  2. Post a screen capture of the code.

Question

1) How was the input from the user used to control the loop in the calculation?

2) How can you output the information to a file?