• Language

    C

  • Description

    It computes the expected amount in The Credit Union And Bank. Where I is the interest rate, N is the number of years, and P is the Principal. Mr. Ojo wants to deposit =N= 1,500 at a savings institution. He considers a bank and a credit union. The credit union requires a non-refundable membership fee of =N=15. Deposits earn interest of 12.25 percent at the credit union and 11.75 percent in the bank. Mr. Ojo will need the money in 2 and half years. We wish to determine which institution that Mr. Ojo should use.

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#include <stdio.h>
#include <stdlib.h>
#include <math.h>

int main (void)
{
    float I_bank, I_the_credit_union, N, P, expected_amount_on_bank;
    float expected_amount_on_the_credit_union, membership_fee;
    N=2.5;
    P=1500;
    I_the_credit_union=0.1225;
    I_bank=0.1175;
    membership_fee=15;
    expected_amount_on_the_credit_union=(P-membership_fee)*pow(1.0+I_the_credit_union,N);
    expected_amount_on_bank=P*pow(1.0+I_bank,N);
    if(expected_amount_on_the_credit_union>expected_amount_on_bank)
        printf ("Mr. Ojo should save his money in The Credit Union.\n");
    else
        printf ("Mr. Ojo should save his money in Bank.\n");
    printf ("Value of I bank: %g\n", I_bank);
    printf ("Value of I the credit union: %g\n", I_the_credit_union);
    printf ("Value of N: %g\n", N);
    printf ("Value of P: %g\n", P);
    printf ("Value of expected amount on bank: %g\n", expected_amount_on_bank);
    printf ("Value of expected amount on the credit union: %g\n", expected_amount_on_the_credit_union);
    printf ("Value of membership fee: %g\n", membership_fee);
    putchar ('\n');
    system ("pause");
    return EXIT_SUCCESS;
}