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The following formula will compute the Total Amount




The following formula will compute the Total Amount that will be accumulated for a given;Monthly Amount saved;Notice that his formula also requires that you first calculate a factor and then use it in your;formula. The factor formula is;factor = exp(numberOfMonths * log(1 + monthlyInterestRate));exp and log are predefined mathematical functions, located in the C++ library.;For hand calculating results to test your program, the equivalent algebraic equation is;factor = (1 + monthlyInterestRate) numberOfMonths;Write a program to output accumulated values for each month, given a set amount saved each;month, until the accumulated amount reaches a set goal amount.;Discussion about comparing floating point values;Given two floating point values;num = 9.99999999;num2 = 10.00000000;If both are displayed to two decimal places, you will see;10.00 and 10.00;However, if you compare the same two values within your code, to see if they are equal, the;comparison test will be false (i.e. they are not equal).;This can cause problems for programs that compare floating point values.;But we can fix this problem by forcing the stored value to be rounded to 2 decimal places (not;just the output value).;The formula;num = floor((num * 100) + 0.5) / 100.0;will change the value stored in num to be;num = 10.00000000;And then if you compare num with num2, they will be found to be equal.;Requirements;Ensure that you define constants for all fixed values. After defining the constants;- Use only the constant name in your code (no hardcoded constant values).;- The usage of only constant names includes references in the executable code, the;prompts and error messages, and the comments -- no hardcoded values anywhere!;Use the double data type for all floating point values.;The program should:. Tell the user what the program does before prompting for input.. Read from the user the amount that will be saved each month.;o The user must enter a value between $5 and $5000 inclusive. If they do not, issue;an error message and then re-prompt the user to enter the number again, until a;valid value is entered.. Read from the user the annual interest rate.;o The user must enter a value between 1% and 25% inclusive. If they do not, issue;an error message and then re-prompt the user to enter the number again, until a;valid value is entered.;o After reading a valid value, the program will need to convert the annual interest;rate to a monthly interest rate (divide by 100 to get a fractional interest rate, and;then divide that by 12 for monthly interest) before using it in the formulas.. Read from the user the goal amount they wish to reach.;o The user must enter a positive amount of no more than $ 999,999.99 (i.e. under 1;million). If they do not, issue an error message and then re-prompt the user to;enter the number again, until a valid value is entered.. Determine the factor and the total amount accumulated as calls to two different user-;defined functions.;o The first function will return the factor for a specific number of months.;o The second function will return the total amount accumulated for a specific;number of months;o Pass any required information, including the number of months to calculate the;value for, to the functions as parameters.. Display the month number and the total amount accumulated, for every month until;the goal is reached, formatted as shown in the output example below.;o NOTE: Use the rounding formula provided above to round the value returned;from the function and stored in the total amount accumulated variable to 2;decimal places, before comparing it to any other value.. The program should cease displaying these values as soon as the total amount;accumulated is at or above the goal.. After the goal has been reached, display the annual interest rate, savings per month, total;number of months, and final amount accumulated formatted as shown in the output;example below.;Sample Input;Program will calculate the amount accumulated every month you save;until you reach your goal.;Enter the dollar amount to be saved each month: 1;Invalid amount -- must save between 5 and 5000 dollars a month. Try again.;Enter the dollar amount to be saved each month: 333.33;Enter the annual interest rate (between 1 and 25): 5.55;Enter the dollar amount of your goal: 5000;Sample Output;Note that dollar amounts are calculated to the nearest penny (i.e. rounded to 2 decimal places);and the annual interest rate is displayed to 3 decimal places with a % after it.;Month Total;Number Accumulated;------ -----------;1 333.33;2 668.20;3 1004.62;4 1342.60;5 1682.14;6 2023.25;7 2365.94;8 2710.21;9 3056.07;10 3403.54;11 3752.61;12 4103.29;13 4455.60;14 4809.54;15 5165.11


Paper#66738 | Written in 18-Jul-2015

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