Question

Write a program to calculate Simple Interrest (SI) Maturity Value (MV):

Formula1: Simple Interest (SI) = Principal (P) x Rate (R) x Time (T)

Formula 2: Maturity Value (MV) = Principal (P) + Interest (I).



Example:

Jan Carley borrowed $30,000 for office furniture. The loan was for 6 months at an annual interest rate of 8%. What are Jan’s interest and maturity value?

Solution:

SI = $30,000 x.08 x 6/12 = $1,200

MV = $30,000 + $1,200 = $31,200

Answer 1

/*Write a program to calculate Simple Interrest (SI) Maturity Value (MV):Formula1: Simple Interest (SI) = Principal (P) x Rate (R) x Time (T)Formula 2: Maturity Value (MV) = Principal (P) + Interest (I).Example:Jan Carley borrowed $30,000 for office furniture. The loan was for 6 months at an annual interest rate of 8%. What are Jan’s interest and maturity value?Solution:SI = $30,000 x.08 x 6/12 = $1,200MV = $30,000 + $1,200 = $31,200*/#include <iostream>#include <conio.h>using namespace std;int main(){    double borrowed;    cout<<"Borrowed: $";    cin>>borrowed;    int period;    cout<<"Period (months): ";    cin>>period;    double rate;    cout<<"Annual interest rate (%): ";    cin>>rate;    double SI, MV;    SI = borrowed * (rate/100) * ((double)period/12);    cout<<"SI = $"<<SI<<endl;    MV = borrowed + SI;    cout<<"MV = $"<<MV<<endl;    getch();    return 0; }