2010 Homework #3

The programs below are from Textbook Chapter-3.

Choose 1 program below and add it to your lab-3 menu program.
Add it as a menu item and integrate it into the menu program.

Start with your /2010/3/menu.cpp program. 


Also, choose one more program from Textbook Chapter-4 and add it
to your menu.cpp program.

The program you choose must be from the "Programming Challenges"
section of chapter-4 in the Gaddis textbook.

You must indicate in the code and on-screen which challenge
you have chosen from chapter #4.

Choose one of these program ideas: 

#18. Interest Earned

Assuming there are no deposits other than the original investment,
the balance in a savings account after one year may be calculated as

                           Rate
Amount = Principal * (1 + ------ ) ^ T
                            T

Principal is the balance in the savings account, Rate is the interest rate,
and T is the number of times the interest is compounded during a year
(T is 4 if the interest is compounded quarterly).

Write a program that asks for the principal, the interest rate, and the
number of times the interest is compounded. It should display a report
similar to

   Interest Rate:             4.25%
   Times Compounded:            12
   Principal:            $ 1000.00
   Interest:             $   43.34
   Amount in Savings:    $ 1043.34


#19. Monthly Payments

The monthly payment on a loan may be calculated by the following formula:

           Rate * (1 + Rate) ^ N
Payment =  ---------------------  * L
            ((1 + Rate)^N - 1)

Rate is the monthly interest rate, which is the annual interest rate divided
by 12. (12% annual interest would be 1 percent monthly interest.) N is the
number of payments, and L is the amount of the loan. Write a program that
asks for these values and displays a report similar to

Loan Amount:              $ 10000.00
Monthly Interest Rate:             1%
Number of Payments:               36
Monthly Payment:          $   332.14
Amount Paid Back:         $ 11957.15
Interest Paid:            $  1957.15


Notes:

The ^ symbol means raised to a power.

Look in your book for a clear explanation of these problems.