Jim often counsels customers at his bank. He needs a computer program that will calculate the number of years (Y) it will take to accumulate a specified future amount (S) of money based on a given initial deposit (D) and specified interest rate (R). Assume interest compounds annually. The number of years (Y) is the number of years required for the actual amount (A) to equal or exceed the specified future amount (S).

Here is the variable legend:

S = Specified Future Amount

D = Initial Deposit

R = Interest Rate (%)

A = Actual Future Amount

Y = Number of Years

Use this formula to calculate A: A = D * (1 + R/100)^Y

The Actual Future Amount (A) is = an Initial Deposit (D) after (Y) years at a Rate (R)

Draw a flowchart for an algorithm that will produce the answers. Your flowchart should input S, D, and R. The algorithm should output S, D, R, A, and Y.

Before reaching the first decision symbol, how should Y be initialized?

Answer rating: 100% (QA)

Before reaching the first decision symbol Y should be initialized to 0 as the number of years ... View the full answer