Simple vs. Compound Interest: Definition and Formulas
Simple vs. Compound Interest: Definition and Formulas
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Write a program (in C) that will determine how much money will accumulate in a bank account after n years if a known amount, P, is deposited initially and the account collects interest at a rate of r percent per year, compounded annually. Use the formula: F = P (1 i)^nWhere: F = future accumulation of moneyP = principal amounti = decimal representation of interest rate (r/100)n = number of yearsConsider the given format:Enter the following values:Principal (P): 1000Interest Rate (r): 6Number o
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