Write a program to calculate Simple Interrest (SI) Maturity Value (MV):
Formula1: Simple Interest (SI) = Principal (P) x Rate (R) x Time (T)
Formula 2: Maturity Value (MV) = Principal (P) + Interest (I).
Jan Carley borrowed $30,000 for office furniture. The loan was for 6 months at an annual interest rate of 8%. What are Jan’s interest and maturity value?
SI = $30,000 x.08 x 6/12 = $1,200
MV = $30,000 + $1,200 = $31,200
using namespace std;
cout<<"Period (months): ";
cout<<"Annual interest rate (%): ";
double SI, MV;
SI = borrowed * (rate/100) * ((double)period/12);
cout<<"SI = $"<<SI<<endl;
MV = borrowed + SI;
cout<<"MV = $"<<MV<<endl;
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