Compute and output compound interest on $1000.00 for 10 years at interest rates of 5%, 6%, 7%, 8%, 9% and 10% This is an exercise in creating nested loops. You must have an inner loop that calculates compound interest via For 1 to 10 amt

Here is the complete question.

Compute and output compound interest on $1000.00 for 10 years at interest rates of 5%, 6%, 7%, 8%, 9% and 10%

This is an exercise in creating nested loops. You must have an inner loop that calculates compound interest via

For 1 to 10  

amt = rate*amt + amt;

You should have an outer loop that iterates the rate from 0.05 to 1.0.

Interest on $1000.00 over 10 years

rate     total

0.05     $1628.89

0.06     $1790.85

0.07     $1967.15

0.08     $2158.92

0.09    $2367.36

0.1       $2593.74

Press any key to continue

Explanation:

The main objective here is to compute  and output compound interest program for the above given data set using the C++.

SO THE PROGRAM GOES THUS:

#include <iostream>

using namespace std;

int main()

{

    double amt;

    double rate = 0.05;

    cout << "\nCompunt interest: " << endl << endl;

    cout << "Rate\tTotal" << endl << endl;

    for (int i = 0; i < 6; i++)

    {

         amt = 1000;

         for (int j = 0; j < 10; j++)

         {

             amt = (rate * amt) + amt;

         }

         cout << rate << "\t$" << amt << endl;

         rate = rate + 0.01;

    }

    system("pause");

}

AND THE SAMPLE OUTPUT IS:

Compound Interest:

Rate             Total

0.05         $1628.89

0.06         $1790.85

0.07         $1967.15

0.08         $2158.92

0.09         $2367.36

0.1            $2593.74

Press any key to continue...

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

answer; i believe the correct answer is (75 years);