Question
The interest you get at the end of n years, at a flat annual rate of r% depends on how the interest is compounded. If
The interest you get at the end of n years, at a flat annual rate of r% depends on how the interest is compounded. If the interest is added to your account k times a year, and the principal amount you invested is X0, then at the end of n years you would have X = X_0*(1+(r/k))^(k*n) amount of money in your account. Write a function to compute the interest (X-X0) on your account for a given X0, n, r, and k. Use the function to find the difference between the interest paid on $1000 at the rate of 6% a year at the end of 5 years if the interest is compounded (i) quarterly (k=4) and (ii) daily (k=365).
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