Jun 25, 2018 at 1:32am UTC
Hello,
I need help to create a program with the following requirements:
Given initial balance, rate and months to
run, how much interest accrues on a credit card?
//allow repetition to compute the interest accrues.
//compute compound credit card interest
Inputs: initial balance,
monthly interest rate as
a decimal fraction, e.g. for 1.5% per month write 0.015
month is a const of 12 months
Formula:
Compute the accrued interest for 12 months using a loop
interest = balance * rate;
print the
interest
Processing : Computes interest
interest according to:
1.5% on 1st $1000
1.0% on all over $1000
Computes interest according to 12 months
compound credit card interest
if amount due < 1000,
interest = balance * .015
else
interest = balance * .01
outputs: Interest due
Your Test Data:
Credit card interest
Enter doubles: initial balance, monthly interest rate as
a decimal fraction, e.g. for 1.5% per month write 0.015
and int of 12 months the bill will run.
I will give you the interest that has accumulated.
1000
.015
12
Interest accumulated = $180.00
Y or y repeats, any other character quits
y
Jun 25, 2018 at 1:55am UTC
This looks like it'd be someone's homework.
That being said, they already told you everything you need to know. You have your equations, your inputs, your outputs, and even the methodology.
To state it simply, you need to create a function which does the math you need and returns the result.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
float getInterest(float initVal, float interestRate);
int main()
{
float InterestRate = .01;
float CurrentBalance = 1000.0;
int nMonths = 12;
for (int x = 0; x < nMonths; x++)
{
CurrentBalance = CurrentBalance + getInterest(CurrentBalance, InterestRate);
}
return 0;
}
float getInterest(float initVal, float interestRate)
{
return initVal*InterestRate;
}
Something like that, if you need to use inputs, then you'd probably be using cin and cout. You'd need to modify the equations or inputs depending on the specifics, but it's literally all there for you.
Last edited on Jun 25, 2018 at 1:57am UTC