Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write a Python program which prompts the user to enter a number representing an initial deposit into a bank account. Assuming an annual interest rate

Write a Python program which prompts the user to enter a number representing an initial deposit into a bank account. Assuming an annual interest rate of 4%, calculate the number of years required for the amount to be greater than 1 million.

Hint: You will likely need to use a while loop

Sample output

Please enter the starting balance: 123456 In 54 years at 4% compounded interest, you will be a millionaire!! 

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_2

Step: 3

blur-text-image_3

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 Organizing Information Digital And Information Literacy

Authors: Greg Roza

1st Edition

1448805929, 978-1448805921

More Books

Students also viewed these Databases questions

Question

1. Outline the listening process and styles of listening

Answered: 1 week ago

Question

4. Explain key barriers to competent intercultural communication

Answered: 1 week ago