Simple Interest calculation
In this C programming tutorial, i will be showing you how to write a program in C to calculate simple interest; and we are going to need an illustrated example to enable us get variable to use for the calculation.
So lets assume a person invests $4016.25 in a savings account yielding 9% interest; Assuming that all interest is left on deposit in the account, we are to write a program in C that calculates and prints the amount of money in the account at the end of each year for 5 years.
Formula for calculating simple interest amount is:
So lets assume a person invests $4016.25 in a savings account yielding 9% interest; Assuming that all interest is left on deposit in the account, we are to write a program in C that calculates and prints the amount of money in the account at the end of each year for 5 years.
Formula for calculating simple interest amount is:
a= p(1+r)n
a= Amount p= original amount(Principal), r = Rate , n= Number of years.
This problem involves a loop that performs the indicated calculation for each of the 5 years the money remains on deposit.
We would also be using the [pow]-Standard Library Function. The function pow(x,y) calculates the values of x raised to the yth power.
The header <math.h> should always be included when ever a math function as pow is used
#include<stdio.h>
#include<stdlib.h>
#include<math.h>
int main(void)
{
double amount;
double principal= 4016.25;
double rate = 0.9;
int year ;
printf("%3s%17s\n", "YEAR", "AMOUNT");
for(year=1; year<=5; year++){
amount=principal*pow(1.0+rate,year);
printf("%4d%23f\n",year,amount);
}
return 0;
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