Question: Merely produce pseudocode using algorithm rules.for c++ 4.A. (8 points) You've recently invested in cryptocurrency! Unfortunately, its value is tanking and decreasing in value at

Merely produce pseudocode using algorithm rules.for c++ 4.A. (8 points) You've recentlyMerely produce pseudocode using algorithm rules.for c++

4.A. (8 points) You've recently invested in cryptocurrency! Unfortunately, its value is tanking and decreasing in value at an annual rate of 76%, where losses are subtracted daily. You can calculate how much money you lose per day by converting your annual rate to a daily rate by dividing it by 365. Multiply this daily rate with your current balance at the end of each day to get the money lost. Subtract this value from your balance the next day, a process called compounding. You initially invest $10,000. On the first day of each month, you frantically withdraw $ 100. Write an algorithm that outputs how long it takes for you to lose half of what you initially invested. Assume each month has 30 days. Output should be in months and days (e.g. "3 months and 9 days). Hint: Create a table with money that is getting compounded and deposited and calculate by hand what happens in the first 5 months. Then use the pattern to help you figure out the algorithm. In this particular case it should take you 9 months and 1 day to lose half your money. 4.B. (3 points) Make changes to the above algorithm so that the user can input values for the annual loss rate, the amount of money initially invested, and the amount of money withdrawn monthly. Ensure all inputted values are greater than zero. Hint: As you get close to half of your initial investment, under what circumstance will the amount you deposit monthly be greater than your loss per month. --- Sample run - What is your initial investment? 1000 How many percentage points does the value decrease each year (annual rate)? 50 How much will you withdraw monthly? 100 It will take 3 months and 11 days for you to lose half of your investment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!