Question
Use Python pls Suppose the current interest rate you can earn on a bank account is 2.5%. Your bank plans to raise the interest rate
Use Python pls Suppose the current interest rate you can earn on a bank account is 2.5%. Your bank plans to raise the interest rate by 0.75% each month until your bank account yields 5.5%. This means the annualized rate you earn for the first month will be 2.5%, then you will earn a 3.25% annualized rate over the second month, and so on. At the end of the month in which your bank account first earns a 5.5% annualized rate, what will be the value of your account if the current balance is $100? Assume the interest is compounded continuously. Calculate the ending value of your investment in two ways:
Using a for loop
Using vectorized operations to calculate the result in one line of code
Note: In your code, you can only use the 2.5, 5.5 and 0.75 values for the interest rates. Do not hardcode the vector [2.5 3.25 4.0 4.75 5.5].
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