Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simple interest is calculated by the product of the principal, number of years, and interest (as a percentage, so either a decimal between 0 and

Simple interest is calculated by the product of the principal, number of years, and interest (as a percentage, so either a decimal between 0 and 1). Write code to calculate the simple interest on a principal amount of $10,000 for a duration of 5 years with the rate of interest equal to 12.5%. You don't have to get the values as input from the user. (Hint: Simple, not compound interest. Don't make the formula more complicated than it is; just use the one given.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Databases Illuminated

Authors: Catherine M Ricardo, Susan D Urban

3rd Edition

1284056945, 9781284056945

More Books

Students also viewed these Databases questions

Question

Demonstrate how to solve a typical retirement problem.

Answered: 1 week ago