Question: Write a C++ program that accepts an amount of money on deposit and a number of years it has been on deposit (years can have
Write a C++ program that accepts an amount of money on deposit and a number of years it has been on deposit (years can have decimals). It will determine the interest to be paid on the deposit based on the following schedule:
Time on Deposit Interest Rate
>= 5 years 4.5%
Less than 5 and >=4 years 4%
Less than 4 and >=3 years 3.5%
Less than 3 and >=2 years 2.5%
Less than 2 and >=1 years 2%
Less than 1 year 1.5%
Compute the interest with the formula: Interest = Deposit * IntRate * Years.
Display the original deposit, the interest earned and the new Balance (with interest added to the deposit).
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
