## CS
1401 Introduction to Computer Science

Fall 2014, Lab 5

**Assignment.** This is similar to Lab 4, but now, instead of
predicting how your deposit will increase in one year, you need to
predict how it will increase in a given number of years.
Write a program that prompts the user to input:
- the threshold,
- the smaller interest rate (in percents),
- the larger interest rate (in percents),
- the user's name,
- the amount the user wants to deposit, and
- the number of years that the user wants to trace.

Your program should find out, for each of these years:
- what is the effective interest rate for the amount
the user deposited,
- how big is the increase, and
- what is the resulting
amount of money at the end of this year.

**Example.** Suppose that the threshold is $1,000, the smaller interest
rate is 0.9%, the larger interest rate is 1.5%, you invest $990, and you
want to trace this amount for 3 years.

In the first year, the amount is smaller than the threshold, so your
effective interest rate is 0.9%. This means that at the end of Year 1, you earn
an additional amount of $990 * (0.9 / 100) = $8.91. Thus, at the end of
Year 1,
your deposit will be equal to $990 + $8.91 = $998.91.

The resulting amount is still smaller than the threshold, so in Year 2, your
effective interest rate is still 0.9%. This means that at the end of Year 2, you earn
an additional amount of $998.91 * (0.9 / 100) = $8.99. Thus, at the end of
Year 2,
your deposit will be equal to $998.91 + $8.99 = $1,007.90.

This amount is already larger than the threshold, so your
effective interest rate is 1.5%. This means that at the end of Year 3, you earn
an additional amount of $1,007.90 * (1.5 / 100) = $15.12. Thus, at the end of
Year 1,
your deposit will be equal to $1,007.90 + $15.12 = $1,023.02.

You should present the results of the computations in a nice and
clear form, e.g., as follows:

Report on John Johnson's saving account:
Original amount 990.00
Year 1:
effective interest rate 0.9%
amount gained 8.91
amount at the end of Year 998.91
Year 2:
effective interest rate 0.9%
amount gained 8.99
amount at the end of Year 1007.90
Year 3:
effective interest rate 1.5%
amount gained 15.12
amount at the end of Year 1023.02
Thanks for using our bank!

**When it is due.** The program is due at the beginning of the
first lab section on the week of October 6, i.e.: - on
Monday October 6 for those who attend Monday-Wednesday labs,
and
- on Tuesday October 7 for those who attend
Tuesday-Thursday labs.