The interest you get at the end of n year, at a flat annual rate of r%, depend on how the interest in compounded. If the interest is added to your account k times a year with the principal amount of X ₀ . then at the end of n years the amount of your account X becomes:

1. Write the function to find the interest paid on X ₀ . (Interest=X-X ₀ )

2. Write a script and input X ₀ , n, r, k and output the result in the following format by using the function you create in #1. The principal amount of $ X ₀ in n years with interest rate of r% becomes $ X when interest is compounded K times a year. Your earning amount is S (X-X ₀ ).

3. Run the script with principal of $1000 at the rate of 6% for five years term when the interest is compounded; (i) quarterly (k=4) (ii)daily' (k=365) (iii) annually (k=1) and compare the interest paid on X ₀ . (*Do not consider the leap year effect for daily)

4. Plot the bar graph which shows the interest in five years with above compound interval. Label x-axis with "Compound Interval, 1: Quarterly, 2: Daily, 3: Annually", and y-axis with "Interest, $". Add title with "Earned interest for 5 years term with 6% interest rate". You may set the y-axis limit with ylim([min max]).

ay' X = X