Reference no: EM132210355

Question :

Write a program that an investor can use to compute future bank balances. The program asks the user for two pieces of information:

The amount of an initial deposit (entered as a double number in dollars, such as 42.31 for 42 dollars and 31 cents), and an interest rate (entered as a double number, such at 0.05 for 5% interest).

The program prints the results of three computations, each of which assumes that interest is paid once per year on the amount in the account at the year's start:

The balance in the account after one year of interest;

The balance in the account after ten years of compounding interest;

The number of years required for the balance to reach at least one million dollars.

The account balances should be printed with a dollar sign in front and rounded to two decimal places (such as $42.31).

In order to get numbers to print with two decimals, include both and and place these lines in your main function (just after you declare any local variables that the main function uses): cout.precision(DIGITS); cout.setf(ios::fixed, ios::floatfield);

Your program must include functions with these exact prototypes: double newBalance(double initialBalance, double interestRate);

// This first version of the new balance function computes the

// final account balance that will be reached by starting with

// an initial balance and adding one year's interest at a given

// interest rate (such as 0.05 for 5%).The function works

// correctly for any non-negative arguments.

double newBalance(double initialBalance, double interestRate, int n);

// This second version of the new balance function computes the

// final account balance that will be reached by starting with

// an initial balance and adding some n number of years of interest

// at a given interest rate (such as 0.05 for 5%). The interest is added /

// once per year and it is applied to the entire balance.

// For example, new_balance(100.00, 0.10, 2) is 121.00 since

// the first year received 10.00 interest (10% of 100) and the /

// second year received 11.00 interest (10% of the 110, which

// was the second year's starting balance). The function works // correctly for any non-negative arguments.

// Notice n is not an appropriate variable name, but will not be // deducted for this program.

int yearsNeeded(double initialBalance, double interestRate, double goal); // The years needed function computes the number of years needed for // a given starting balance to reach a given goal at a certain rate // of compound interest. The function works correctly for any // positive arguments.

Important Note:

Your program must include the three functions show above in this exact format. Validate all input. Do not use using namespace std;.

We will actually test your program by throwing away your main program and using our own main program that calls the functions with lots of different numbers.