Suppose you have a certain amount of money in a savings account that earns compound monthly...
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Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate the amount that you will have after a specific number of months. The formula is as follows: f = p* (1 + i)^t • f is the future value of the account after the specified time period. • p is the present value of the account. • i is the monthly interest rate. •t is the number of months. Write a program that takes the account's present value, monthly interest rate, and the number of months that the money will be left in the account as three inputs from the user. The program should pass these values to a function that returns the future value of the account, after the specified number of months. the program should print the account's future value. Sample RunEnter current bank balance: 35.7 Enter interest rate: 0 Enter the amount of time that passes: 100 35.7 Additional Notes: Regarding your code's standard output, CodeLab will check for case errors and will check whitespace (tabs, spaces, newlines) exactly. Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate the amount that you will have after a specific number of months. The formula is as follows: f = p* (1 + i)^t • f is the future value of the account after the specified time period. • p is the present value of the account. • i is the monthly interest rate. •t is the number of months. Write a program that takes the account's present value, monthly interest rate, and the number of months that the money will be left in the account as three inputs from the user. The program should pass these values to a function that returns the future value of the account, after the specified number of months. the program should print the account's future value. Sample RunEnter current bank balance: 35.7 Enter interest rate: 0 Enter the amount of time that passes: 100 35.7 Additional Notes: Regarding your code's standard output, CodeLab will check for case errors and will check whitespace (tabs, spaces, newlines) exactly.
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To find compound interest using the formula fp1it where p is current b... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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