Let r be a bank's interest rate in percent per year (APR). An initial amount of money P, also called as principal, will mature to an amount of P (1+r/100) ^n after n years have passed. Write a Python program that takes P, r, and n as inputs from the user and provides as output the matured value after n years. For example if the user provides P, r, and n as 1000 0.95 and 5. Your program must apply the interest-rate formula and provide 1048.4111145526908 as the output.

Question

Rebecca Schwartz

Engineering

14 December, 09:22

Let r be a bank's interest rate in percent per year (APR). An initial amount of money P, also called as principal, will mature to an amount of P (1+r/100) ^n after n years have passed. Write a Python program that takes P, r, and n as inputs from the user and provides as output the matured value after n years. For example if the user provides P, r, and n as 1000 0.95 and 5. Your program must apply the interest-rate formula and provide 1048.4111145526908 as the output.

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Answers (1)

Know the Answer?

Aldo Andersen · Answer 1

See explanation below.

Explanation:

For this case the program needs to take the inputs as P, r and n and the output would be as A and printed on the system. The code is:

# Inputs

P = float (input ("Enter the present value : "))

r = float (input ("Enter your APR : "))

n = float (input ("Enter the number of years : "))

# Output

A = P * (1 + (r/100)) * *n

print ("The future values is:", A)

And the result obtained is:

Enter the present value : 1000

Enter your APR : 0.95

Enter the number of years : 5

The future values is: 1048.4111145526908