Question: 6. Consider the following programming problem: In 1627, Manhattan Island was sold to the Dutch settlers for approximately $24. If the proceeds of that

6. Consider the following programming problem: In 1627, Manhattan Island was sold

6. Consider the following programming problem: In 1627, Manhattan Island was sold to the Dutch settlers for approximately $24. If the proceeds of that sale had been deposited in a Dutch bank paying 5% interest, compounded annually, what would the principal balance be at the end of 2002? A display is required as fol- lows: Balance as of December 31, 2002 is: xxxxxx, where xxxxxx is the amount calculated by your program. a. For this programming problem how many outputs are required? b. How many inputs does this problem have? c. Determine an algorithm for converting the input items into output items. d. Test the algorithm written for part c using the data given in the problem statement.

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