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The following describes the operation of an investment program 1)

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The following describes the operation...
The following describes the operation of an investment program:
1) Prompts the user to input a savings account balance and inputs that balance.
2)Prompts the user to enter the annual interest rate for the account and inputs the interest rate.
3) If the interest rate was no entered in decimal form, it converts it to a decimal.
4) Calculates twice the current balance and sets this equal to the target balnce;
5) Initializes the year counter that will keep track of the number of years it takes.
6) Calculates the balnce of the account as it continues to earn interest until the balance in the account has reached or exceeded the target balance. (Each year, the new balance is equal to the old balance plus the old balance times the interest rate).
7) Output the number of years it takes to reach the target balance.
Complete the following pseudocode:
display____
input balance
display____
input rateOfReturn
if rateOfReturn >=1 then
set rateOfReturn = ___/100
____
set targetBalance = 2 ____ balance
set yearCounter = _______
while balance < targetBalance
    _____=_____ + balance * rateOfReturn
    set yearCounter = ______
end while
display "It will take" + _____ + "years to double your balance."
Submitted: 8 years ago.Category: Programming
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Answered in 5 hours by:
6/18/2010
Programmer: LogicPro, Computer Software Engineer replied 8 years ago
LogicPro
LogicPro, Computer Software Engineer
Category: Programming
Satisfied Customers: 13,507
Experience: Expert in C, C++, Java, DOT NET, Python, HTML, Javascript, Design.
Verified
Welcome to JustAnswer.
Here is your answer:-

output "Enter balance"
input balance
output "Enter the annual interest rate"
input rateOfReturn
if rateOfReturn >= 1 then
set rateOfReturn = rateOfReturn / 100
end if
set targetBalance = 2 * balance
set yearCounter = 0
while balance < targetBalance
balance = balance + balance * rateOfReturn
set yearCounter = yearCounter + 1
end while
output "It will take" + yearCounter + "years to double your balance."



Edited by LogicPro on 6/21/2010 at 4:21 AM EST
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