The First National Bank of Parkville recently opened up a new “So You Want to Be

Question

The First National Bank of Parkville recently opened up a new “So You Want to Be a Millionaire” savings account. The new account works as follows:

• The bank doubles the customer’s balance every year until the customer’s balance reaches one million.
• The customer isn’t allowed to touch the money (no deposits or withdrawals) until the customer’s balance reaches one million.
• If the customer dies before becoming a millionaire, the bank keeps the customer’s balance.
• Note: Customers close to $1,000,000 tend to get “accidentally” run over in the bank’s parking lot.

Write a program that prompts the user for a starting balance and then prints the number of years it takes to reach $100,000 and also the number of years it takes to reach $1,000,000.

Sample session:

Enter starting balance: 10000
It takes 4 years to reach $100,000.
It takes 7 years to reach $1,000,000

Explanation / Answer

#include <iostream>
using namespace std;
int main()
{

   double balance =0;

   cout<<"Enter the initial balance: ";
   cin>>balance;

   cout<<endl;

   int lakh =0, million = 0;

   while( balance < 100000)
   {
       lakh++;
       million++;

       balance *=2;
   }

   while(balance <= 1000000)
   {
       million++;
       balance *=2;
   }


   cout<<endl<<"It takes "<<lakh<<" years to reach $100,000"<<endl;
   cout<<"It takes "<<million<<" years to reach $1000,000"<<endl;






   return 0;

}

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.