1. Engineering
  2. Computer Science
  3. 11 interest carneapoints assuming there are no deposits other than...

Question: 11 interest carneapoints assuming there are no deposits other than...

Question details

11. Interest carnea(points) Assuming there are no deposits other than the original investment, the balance in savings account after one year may be calculated as Amount Principal(Rate/T))T Principal is the balance in the savings account, Rate is the interest rate, and T is the number of times the interest is compounded during a year ( T is 4 if the interest is compounded quarterly). a program that asks for the principal, the interest rate, and the mumber of times the interest Interest Rate: 4.25% Times Compounded Principal: $1000.00 Interest: S 43.34 : 12 Amouat in Savings: $ 1043.34 nter the principal amount: 5000 Enter the interest rate: 0.03 nter the number of times interest will be compounded: 12 Interest Rate: 0.03% 12 Times Compounded: rincipal: Interest: mount in Savings: 5001.50 $5000.0 1.50

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution