Suppose you want to deposit a certain amount of money into a savings account with a fixed annual interest rate. What amount do you need to deposit in order to have $5,000 in the account after three...


Suppose you want to deposit a certain amount of money into a savings account with a fixed annual interest rate. What amount do you need to deposit in order to have $5,000 in the account after three years? The initial deposit amount can be obtained using the following formula:


initialDepositAmount = finalAccountValue/ (1 + monthlyInterestRate)numberOfMonths


Write a program that prompts the user to enter final account value, annual interest rate in percent, and the number of years, and displays the initial deposit amount.



Jun 08, 2022
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