Interest Earned

Total points: $25$

Assuming there are no deposits other than the original investment, the balance in a savings account after one year may be calculated as:

amount $=$ principal $**(1+\frac{\text{r}\text{a}\text{t}\text{e}}{T}{)}^T$

Where

principal $=$ original balance in the account

rate $=$ interest rate

$T=$ number of times the interest is compounded during a year $(T$ is $4$ if the interest is compounded quarterly

Write a program that asks the user for the principal, the interest rate, and the number of times the interest is compounded $(3$ points$).$

It then computes the new amount using the above formula $(5$ points$).$ Hint: Look at slide $4$ of CMPS$1044\_$Lect$03$d$\_$Math$\_$Expressions.pptx for an example of the pow $()$ function.

It then displays interest rate, the times compounded, the principal, the interest, and the current amount in the account. The display should exactly match the output in the screen shot below, with columns aligned $(2$ points for each display, total $10$ points$).$

Create three string variables, assign them with your name, class and assignment number, and concatenate them along with other characters, such as dashes $(-),$ to display on top $(2$ points$).$

Good variable names $(3$ points$).$

Proper comments $(2$ points$).$

Input

Good variable names $(3$ points$).$

Proper comments $(2$ points$).$

Input

The input for this program will be two doubles $($for principal and the interest rate rate$),$ and one int $($for $T,$ the number of times the interest is compounded$).$ The input should be read from the keyboard, as displayed below. Issue appropriate prompts.

Output

The output should be displayed on the screen. It should be formatted as shown below. Use left $$ setw $(20)$ for the string literals, and right $$