Question #42135

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).

Example:

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?

Solution:

SI = $30,000 x.08 x 6/12 = $1,200

MV = $30,000 + $1,200 = $31,200

Formula1: Simple Interest (SI) = Principal (P) x Rate (R) x Time (T)

Formula 2: Maturity Value (MV) = Principal (P) + Interest (I).

Example:

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?

Solution:

SI = $30,000 x.08 x 6/12 = $1,200

MV = $30,000 + $1,200 = $31,200

Expert's answer

`/*`

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).

Example:

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?

Solution:

SI = $30,000 x.08 x 6/12 = $1,200

MV = $30,000 + $1,200 = $31,200

*/

#include <iostream>

#include <conio.h>

using namespace std;

int main(){

double borrowed;

cout<<"Borrowed: $";

cin>>borrowed;

int period;

cout<<"Period (months): ";

cin>>period;

double rate;

cout<<"Annual interest rate (%): ";

cin>>rate;

double SI, MV;

SI = borrowed * (rate/100) * ((double)period/12);

cout<<"SI = $"<<SI<<endl;

MV = borrowed + SI;

cout<<"MV = $"<<MV<<endl;

getch();

return 0;

}

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Assignment Expert22.05.14, 16:38Dear Meme, You're welcome. We are glad to be helpful. If you liked our service please press like-button beside answer field. Thank you!

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