!OPEN(S) PROGRAM
PROGRAM SOLUTION_1E

!THE FOLLOWING REMOVES THE PRE-EXISTING IMPLICIT TYPE RULE
IMPLICIT NONE

!DECLARATION BLOCK
INTEGER :: MONTH
REAL :: DEPOSIT,BALANCE,INTEREST

!INITIALIZATION BLOCK
DEPOSIT = 50 ;
BALANCE = 0 ;

!EXECUTABLE STATEMENT(S)

PRINT 11, 'MONTH','BALANCE($)'
11 FORMAT (A,2X,A)
DO MONTH = 1,12
   INTEREST = 0.01 * DEPOSIT       !ADDS $0.5 TO THE $50 DEPOSIT
   BALANCE = DEPOSIT + INTEREST    !BALANCE BECOMES $50 + $0.5
   DEPOSIT = BALANCE + 50  !DEPOSIT FOR THE NEXT MONTH BECOMES $50.5 + $50 = $100.5
   PRINT 10,MONTH,BALANCE
   10 FORMAT (3X,I2,7X,F0.4)
END DO
  


!CLOSE(S) PROGRAM
END PROGRAM SOLUTION_1E