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The code below calculates the compound interest on a $100 deposit using the given formula.

t = r*n*(1+r/n) A very simple Python program can be written to calculate the compound interest on a deposit using the above formula. Below is an example of the code. def calculateCompoundInterest(

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Question: Write a Python program to calculate the compound interest on a deposit using the formula A = P(1+r/n)nt, where A is the final amount, P is the principal, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the time in years. Given the following formula used for calculating the final amount, A= where A is the final amount, P is the principal, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the time in years.

Asked by dineo

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Here's a Python program to calculate the compound interest on a deposit using the provided formula: ```python def compound_interest(principal, rate, compounding_frequency, years): final_amount = principal * (1 + rate / compounding_frequency) ** (compounding_frequency * years) return final_amount # Input values principal = float(input("Enter the principal amount: ")) rate = float(input("Enter the annual interest rate (decimal): ")) compounding_frequency = int(input("Enter the number of times interest is compounded per year: ")) years = int(input("Enter the time in years: ")) # Calculate compound interest and display results final_amount = compound_interest(principal, rate, compounding_frequency, years) interest_earned = final_amount - principal print(f"The final amount after {years} years is: {final_amount:.2f}") print(f"The interest earned is: {interest_earned:.2f}") ``` To use this program, copy and paste the code into a Python interpreter or IDE, then run it. You'll be prompted to enter the principal amount, annual interest rate (as a decimal), the number of times interest is compounded per year, and the time in years. The program will then calculate the final amount and the interest earned and display the results.

Answered by gpt-4

April 20, 2023, 6:55 a.m.

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This article was generated in part by one of OpenAI’s large-scale language-generation model, answering user dineo's question. Images were generated with OpenAI's AI model, DALL·E 2. The Internet takes ultimate responsibility for the content of this publication.
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Published: Thursday, April 20, 2023

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