Need help desperately

[gigi007]

Hello,

I need help to create a program with the following requirements:
Given initial balance, rate and months to

run, how much interest accrues on a credit card?

//allow repetition to compute the interest accrues.

//compute compound credit card interest

Inputs: initial balance,

monthly interest rate as

a decimal fraction, e.g. for 1.5% per month write 0.015

month is a const of 12 months


Formula:

Compute the accrued interest for 12 months using a loop

interest = balance * rate;



print the

interest



Processing : Computes interest

interest according to:

1.5% on 1st $1000

1.0% on all over $1000

Computes interest according to 12 months


compound credit card interest

if amount due < 1000,

interest = balance * .015

else

interest = balance * .01



outputs: Interest due

Your Test Data:
Credit card interest

Enter doubles: initial balance, monthly interest rate as

a decimal fraction, e.g. for 1.5% per month write 0.015

and int of 12 months the bill will run.

I will give you the interest that has accumulated.

1000

.015

12

Interest accumulated = $180.00

Y or y repeats, any other character quits

y

[roger911]

This looks like it'd be someone's homework.

That being said, they already told you everything you need to know. You have your equations, your inputs, your outputs, and even the methodology.

To state it simply, you need to create a function which does the math you need and returns the result.

float getInterest(float initVal, float interestRate);

int main()
{
    float InterestRate = .01;
    float CurrentBalance = 1000.0;
    int nMonths = 12;
    for(int x = 0; x < nMonths; x++)
        {
            CurrentBalance = CurrentBalance + getInterest(CurrentBalance, InterestRate);
        }
    return 0;
}

float getInterest(float initVal, float interestRate)
{
    return initVal*InterestRate;
}

Something like that, if you need to use inputs, then you'd probably be using cin and cout. You'd need to modify the equations or inputs depending on the specifics, but it's literally all there for you.