Answered Essay: Project: Calculating Future Investment Value (C Programming)

Project: Calculating Future Investment Value (C Programming)

Problem Description: Write a program that reads in investment amount, annual interest rate, and number of years, and displays the future investment value using the following formula: and displays the future investment value using the following formula:

futureInvestmentValue = investmentAmount * (1 + monthlyInterestRate)numberOfYears*12

For example, if you enter amount 1000, annual interest rate 3.25%, and number of years 1, the future investment value is 1032.98.

Hint:insert #include . Use the pow(a, b) method to compute a raised to the power of b.

Here is a sample run:

Sample 1:

Enter investment amount: 1000

Enter annual interest rate: 4.25

Enter number of years: 1

Accumulated value is 1043.34

Sample 2:

Enter investment amount: 1000

Enter annual interest rate: 4.25

Enter number of years: 1

Accumulated value is 1043.34

Expert Answer

 

Editable Code:

#include<stdio.h>

#include<math.h>

int main()

{

double investmentAmount, monthlyInterestRate, futureInvestmentValue;

int numberOfYears;

printf(“Enter investment amount:”);

scanf_s(“%lf”, &investmentAmount);

printf(“Enter annual interest rate:”);

scanf_s(“%lf”, &monthlyInterestRate);

monthlyInterestRate /= 1200;

printf(“Enter number of years:”);

scanf_s(“%d”, &numberOfYears);

futureInvestmentValue = investmentAmount * pow(1 + monthlyInterestRate, numberOfYears * 12);

printf(“Accumulated value is %.2lf”, futureInvestmentValue);

system(“pause”);

return 0;

}

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