I've got a project where I have to use a NESTED for loop to calculate how much interest occurs at x% rate over x amount of years for an initial investment of $1000. Trouble is, i dont understand how a for loop is going to do this for me. (keep in mind, im a newbie, my teacher is not very good and for loops are my weakest)

year 1 year 2 year 3 year 4 year 5

6%:

7%: THE ACTUAL ACCOUNT BALANCE DATA SHOULD APPEAR

8%: IN HERE NICELY FORMATTED

9%:

10%:

11%:

12%:

It's gotta appear in that format. Now, the formula (for the first one, accruing interest monthly) would be amt = (amt * (.06/12)) + amt. The outter loop would be something like (count = 0; count <= 7; count++)

inner loop for (count = 0; count <= 5; count++)

now where would i put the actual calculation of the interest and stuff? I tried this method with no avail (not to mention an infinite loop):

#include <iostream.h>

#include <iomanip.h>

#include <stdlib.h>

int main()

{

float intrate, amt;

int count;

intrate = .06/12;

amt = 1000;

for(count = 0; count <= 7; count++){

for(count = 0; count <= 5; count++)

amt = (amt * intrate) + amt;

}

cout << amt << endl;

system("pause");

return 0;

}