Many banks and savings and loan institutions compute interest on a daily basis. On a balance of 1000 with an interest rate of 6%, the interest earned in one day is 0.06 multiplied by 1000 and then...


Using C (NOT C++,C#) I need help in coding this practice problem without the use of Strings and Arrays.



Many banks and savings and loan institutions compute interest on a daily basis. On a<br>balance of 1000 with an interest rate of 6%, the interest earned in one day is 0.06<br>multiplied by 1000 and then divided by 365, because it is only for one day of a 365<br>day year. This yields 0.16 in interest and so the resulting balance is 1000.16. The<br>interest for the second day will be 0.06 multiplied by 1000.16 and then divided by<br>365. Design a program that takes three inputs: the amount of deposit, the interest rate,<br>and a duration in weeks. The algorithm then calculates the account balance at the end<br>of the duration specified.[SAVI89]<br>

Extracted text: Many banks and savings and loan institutions compute interest on a daily basis. On a balance of 1000 with an interest rate of 6%, the interest earned in one day is 0.06 multiplied by 1000 and then divided by 365, because it is only for one day of a 365 day year. This yields 0.16 in interest and so the resulting balance is 1000.16. The interest for the second day will be 0.06 multiplied by 1000.16 and then divided by 365. Design a program that takes three inputs: the amount of deposit, the interest rate, and a duration in weeks. The algorithm then calculates the account balance at the end of the duration specified.[SAVI89]

Jun 11, 2022
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