Posted by James Starr on Sunday, March 27, 2011 at 1:15am.
When $1000 is deposit at 5% simple interest, the amount grows by $50 each year. When money is invested at 5% compound interest, then the amount at the end of each year is 1.05 times the amount at the beginning of the year. Write a program to display the amounts for 10 years for a $1000 deposit at 5% simple and compound interest. The first few lines displayed in the list box should appear as such:
year Amount Amount
Simple Compound
Interest Interest
1 $1,050.00 $1,050.00
2 $1,100.00 $1,100.00
3 $1,150.00 $1,570.63

computer science  MathMate, Sunday, March 27, 2011 at 10:39am
Does the question require you to write a program? What language/tool do you use? Can you tell us where we can be of help?

computer science  James Starr, Sunday, March 27, 2011 at 7:31pm
I need to write the code in Visual basic 8

computer science  MathMate, Sunday, March 27, 2011 at 8:58pm
So drag 2 textboxes for the principal and interest rate. Drag a listbox for the output.
Finally, drag a button that displays the word "calculate".
Double click on the button to get to the onClick method.
Inside the onClick method, import the values entered in the two textboxes (principal and interest rate) and start the calculate the accumulated amount with a forloop, and voila!
Give it a try and if you have problems, post where you need help!
Answer This Question
Related Questions
 Visual Basic 2008 Programming  Help! I'm not sure how to start or how calculate...
 Alg 2  Suppose you deposit a principal amount of p dollars in a bank account ...
 Alg2  Help....Help... Suppose you deposit a principal amount of p dollars in a ...
 BEHRIA  A SUM OF $8000 IS INVESTED IN A SAVING ACCOUNT WHICH PAY THE INTEREST ...
 math  Sam invested $5000 in a GIC earning 8% compound interest per year. The ...
 College Algebra  A total of $14,000 is invested in 3 accounts earning 3%, 4%, ...
 Math  Help! Toshiro Hashimoto invested some money at 4.5% simple interest and $...
 Math  Betsy, a recent retiree, requires $6,000 per year in extra income. She ...
 Algebra  A total of $7000 is invested in three accounts. Some was invested at 6...
 algebra  A total of $12,000 is invested in two funds paying 9% and 11% simple ...
More Related Questions