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Task3: Compound Interest is calculated using following formula: Pn=P*(1+r) Where Pis initial deposit, i is the annual interest rate, and n is time in years.
Task3: Compound Interest is calculated using following formula: Pn=P*(1+r)" Where Pis initial deposit, i is the annual interest rate, and n is time in years. Using this formula, program in Python to input P, input and then display accumulated amount for year 1 to year 7. (More info: P, means the amount after year n, and P is typically a big number like 10000 and r is a small number (very less than 1) like 0.1 or 0.05) Expected output should be something like this: Enter Principal Amount: 10000 Enter annual interest rate (from 0 to 1): 0.1 After year: 1 Amount = 11000.0 After year: 2 Amount = 12100.000000000002 After year: 3 Amount = 13310.000000000004 After year: 4 Amount = 14641.000000000004 After year: 5 Amount = 16105. 100000000006 After year: 6 Amount = 17715.610000000008 After year: 7 Amount = 19487.171000000013 (Just submit your 3 python code files)
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