Question #44644

Write a menu driven program in C++ to calculate the simple interest or compound interest depending
upon the user’s choice. Write and use functions to calculate simple interest and compound interest.

Expert's answer

`#include <iostream>`

using namespace std;

int main()

{

//global variables

int ch=-1;

double P;

double j;

int m;

int t;

double S;

double SI;

do{

while(ch<1 || ch>3){

//show menu

cout<<"1 - Simple interest\n";

cout<<"2 - Compound interest\n";

cout<<"3 - Exit\n";

cout<<"Your choice: ";

cin>>ch;

switch(ch){

case 1:

//Principal or Sum [P] =

cout<<"Enter principal amount: ";

cin>>P;

//Rate % per Annum [j] = %

cout<<"Enter interest rate: ";

cin>>j;

//Time [T] =

cout<<"Enter time: ";

cin>>t;

//Simple Interest [S.I.]

SI=(P*j*t)/100;

//show result

cout<<"Simple Interest: "<<SI<<"\n\n";

break;

case 2:

//P = principal amount (initial investment)

cout<<"Enter principal amount: ";

cin>>P;

//j = annual nominal interest rate (not reflecting the compounding)

cout<<"Enter an annual nominal interest rate: ";

cin>>j;

//m = number of times the interest is compounded per year

cout<<"Enter the number of times the interest is compounded per year: ";

cin>>m;

//t = number of years the money is borrowed for

cout<<"Enter the number of years the money is borrowed for: ";

cin>>t;

//S = value after t periods

S=P*pow((1+j/m),m*t);

//show result

cout<<"Future Value: $"<<S<<"\n\n";

break;

case 3:

break;

}

}

}while(ch!=3);

return 0;

}

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