| 13 | Determining Compound Interest |
Simple interest is something you use only when making a quick guess. Most investments use a compound interest formula, which will be much more accurate. And this formula requires you to incorporate exponents into your programs.
Write a program to compute the value of an investment compounded over time. The program should ask for the starting amount, the number of years to invest, the interest rate, and the number of periods per year to compound.
The formula you’ll use for this is
where
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P is the principal amount.
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r is the annual rate of interest.
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t is the number of years the amount is invested.
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n is the number of ...
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