Develop an algorithm for computing the month-by-month balance in your savings account. You can make one transaction—a deposit or a withdrawal—each month. Interest is added to the account at the beginning of each month. The monthly interest rate is the yearly percentage rate divided by 12.
What will be an ideal response?
1. For month goes from 1 to 12
1.1. Compute the monthly interest
1.2. Compute the interest and add to the balance
1.3. Ask if the user is making a deposit or withdrawal.
1.4. Get the amount from the user
1.5. If making a deposit
1.5.1. Add the amount to the balance
1.6. Else
1.6.1. Subtract the amount from the balance
1.7. Display the current balance
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