Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

There are several different formulas routinely used to calculate interest. Write a program that lets the user compare three different interest formulas. You will

 

There are several different formulas routinely used to calculate interest. Write a program that lets the user compare three different interest formulas. You will use the simple, compound, and the exponential formula for interest and display the results on screen. The formula for simple interest is: I= (p*r*t)+p == Compound is: I = P*(1+r) and Continuously Compounded Interest is: Enter value for principle: 1 = p*e* 1000 Enter value for percent rate: 0.05 Enter time for interest to be calculated over in years: 3 Simple Interest: 1150.000000 Compound Interest: 1157.625000 Continuously Compounded Interest: 1161.834243

Step by Step Solution

3.38 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

Here is a Python program that calculates and compares the simple compound and continuously compounde... 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

Starting Out With Java From Control Structures Through Data Structures

Authors: Tony Gaddis

6th Edition

0133957055, 978-0133957051

More Books

Students also viewed these Programming questions

Question

What causes a recursive algorithm to stop calling itself?

Answered: 1 week ago