A savings account typically accrues savings using compound interest. If you deposit $1,000 with a 10% interest rate per year, then after one yea you have a total of $1,100. If you leave this money in the account for another year at 10% interest, then after two years the total will be $1,210. After three years, you would have $1,331, and so on. • Write a program that inputs the amount of money to deposit, an interes rate per year, and the number of years the money will accrue compoun interest. Write a recursive function that calculates the amount of mone that will be in the savings account using the input information. To verify your function, the amount should be equal to P(1 + i)n, where P is the amount initially saved, i is the interest rate per year, and n is the numbe of years.

A savings account typically accrues savings using compound interest. If you deposit $1,000 with a 10% interest rate per year, then after one yea you have a total of $1,100. If you leave this money in the account for another year at 10% interest, then after two years the total will be $1,210. After three years, you would have $1,331, and so on. • Write a program that inputs the amount of money to deposit, an interes rate per year, and the number of years the money will accrue compoun interest. Write a recursive function that calculates the amount of mone that will be in the savings account using the input information. To verify your function, the amount should be equal to P(1 + i)n, where P is the amount initially saved, i is the interest rate per year, and n is the numbe of years.

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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