Problem: A savingsaccount typically accrues savings using compound interest.If y

Question

Problem:

A savingsaccount typically accrues savings using compound interest.If youdeposit $1000.00 with a 10% interest rate per year, after one yearyou will have $1100.00.If you leave this money in the account foranother year at 10% interest you will have $1210.00.After threeyears you will have $1331.00 and so on.

Design andimplement a C++ program that inputs the intial amount, an interestrate per year and the number of years the money will accruecompound interest.Make sure you use a recursive function tocalculate the amount of money that will be in the savings accountusing the given input information.

To verify yourfunction, the amount of should be equal to P(1 + i) n,where P is the amount initially saved, I is the interest rate peryear and n is the number of years.

DISCUSSION

INPUT: The initial savings amount, the interestrate and the number of years the money will accrue

OUTPUT : A reportshowing the starting balance and the accrued interest per year.Make sure you test for at least ten different scenarios.

Explanation / Answer

please rate - thanks looking for the other I found this too #include double calcint(double,double,int); int main() {double rate, balance; int years; coutbalance; coutrate; rate/=100.; coutyears; balance=calcint(balance,rate,years); cout

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