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Compound interest is an important financial concept that motivates saving early and often in your lifetime. Assuming no withdrawals from a savings account, the interest
Compound interest is an important financial concept that motivates saving early and often in your lifetime. Assuming no withdrawals from a savings account, the interest earned on your savings in one time period becomes part of the account balance and earns interest in future time periods. Therefore, even without any additional principal, an account earning compound interest will earn more and more interest in each subsequent year.For a specific investment, we can calculate the amount of money in the account as:P Prnnt where:P is the initial amount of the investment the original principalr is the interest raten is the number of compounding per year eg for monthly compounding, for quarterly, for annualt is the number of years of interestP' is the new balance of the account after earning interest for t yearsFor this assignment, you'll be asked to write a program that gathers some of these variables from the user, calculates some figures using the above equation, and displays the results. RequirementYou need to write a program that acts as a savings calculator. It should:Prompt the user to enter P r n and t Your prompts should be "userfriendly" and should NOT require a user to know what, for example, n The prompts should make it obvious what the user should enter and what units are expectedDisplay original principal P the amount of interest earned P P and the total value of the account at the end of the term PAll monetary values should be displayed with units ie dollar signs commas, and two decimal places. For example: $
PLEASE WRITE THE FOLLOWING CODE IN PYTHON
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