Week $9$

Sample problem $1-$ assignment for homework, July $2/2024$

Write a program that reads in:

a$)$ An initial investment $($$$)$

b$)$ An annual interest rate $(\%)$

c$)$ A target future value $($$$)$

The program should calculate how many years it takes to grow the initial investment to the target amount, and how much the portfolio is worth.$|$

To calculate the value of the portfolio after one year, the formula is: $($Initial amount$)*(100\%+$ interest rate$)$

Hints:

Structure your problem$-$solving $-$ start with a flow chart or pseudocode

How many variables do you need, and what type? The interest rate and the final portfolio value will need to be decimal variables $-$ floats. The initial investment, years of growth, and target value could be integers $-$ int. But regular int, or longint?

Keep track of the years $-$ the number of times an interest payment has been made.

Remember that once interest has been paid, interest the next year is on the combined value of 'initial investment $+$ interest'. $($This is called 'compound interest' in the financial world.$)$