The interest paid on a savings account is compounded daily. This means that if you start with startbal dollars in the bank, at the end of the first day you’ll have a balance ofstartbal * (1 + rate/365)dollars, where rate is the annual interest rate (0.10 if the annual rate is 10 percent). At the end of the second day, you’ll havestartbal * (1 + rate/365) * (1 + rate/365)dollars, and at the end of n days you’ll havestartbal * (1 + rate/365)ndollars. Write a program that processes a set of data records, each of which contains values for rate, startbal, and n and computes the final account balance.
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The interest paid on a savings account is compounded daily. This means that if you start with startbal dollars in the bank, at the end of the first day you’ll have a balance of
startbal * (1 + rate/365)
dollars, where rate is the annual interest rate (0.10 if the annual rate is 10 percent). At the end of the second day, you’ll have
startbal * (1 + rate/365) * (1 + rate/365)
dollars, and at the end of n days you’ll have
startbal * (1 + rate/365)n
dollars. Write a program that processes a set of data records, each of which contains values for rate, startbal, and n and computes the final account balance.
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- Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalance is the balance shown in the bill, payment is the payment made, d1 is the number of days in the billing cycle, and d2 is the number of days payment is made before billing cycle. Then, the average daily balance is: averageDailyBalance = (netBalance * d1 – payment * d2) / d1 If the interest rate per month is, say, 0.0152, then the interest on the unpaid balance is: interest = averageDailyBalance * 0.0152 Instructions Write a program that accepts as input netBalance, d1, payment, d2, and interest rate per month (interestRate). The program outputs the interest. Format your output to two decimal places. Input: 100 30 50 7 9.7 Output: 856.83 Test case 2: Input: 255.76 31 55 3 12.3 output: 3080.38Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalance is the balance shown in the bill, payment is the payment made, d1 is the number of days in the billing cycle, and d2 is the number of days payment is made before billing cycle. Then, the average daily balance is: averageDailyBalance = (netBalance * d1 – payment * d2) / d1 If the interest rate per month is, say, 0.0152, then the interest on the unpaid balance is: interest = averageDailyBalance * 0.0152 Write a program that accepts as input netBalance, d1, payment, d2, and interest rate per month (interestRate). The program outputs the interest. Format your output to two decimal places.Interest on a credit card’s unpaid balance is calculated using the average daily balance. Suppose that netBalanceis the balance shown in the bill, paymentis the payment made, d1is the number of days in the billing cycle, and d2is the number of days payment is made before the billing cycle. Then the average daily balance is: averageDailyBalance = (netBalance * d1 –payment * d2) / d1 if the interest rate per month is say, 0.0152, then the interest on the unpaid balanceis: interest = averageDailyBalance * 0.0152 Design a program that accepts as input netBalance, payment, d1, d2, and interest rate per month. The program outputs the interest charged. Format your output to two decimal places. C++
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