Hello!

Looking for some help with this simple python program, any help would be aprpeciated! I seem to be very lost, I have attached a picture of the quesiton.

Here is the following code I have written:

#Weekly Task2

principal = input("How much is your starting principal?")

rate = input("What is your starting interest rate?")

interest_increment = input("At what rate does the interest rate increase?")

actual_principal = float(principal)

actual_rate = float(rate)

actual_interest_increment = float(interest_increment)

print('Year\t Interest Rate\t Balance on Jan 1st')

while actual_principal == actual_principal**2:

actual_principal**actual_rate

print('Year\t actual_rate\t actual_principal')

WEEKLY Task2 Joe plans to open a bank account with a starting principal amount. On 31st December of each year, this bank pays an interest on the balnce of the account. On January 1st the new balance for the new year is the sum of the previous balance and the total interest earned on Dec 31st. The interest for the new year is also increased by an interest rate increament. The interest rate is capped at 6% Le it remains constant at 6% over the subsequent years. You need to write python code that will input the following information from the keyboard 2 Starting Principal amount Starting interest rate Interest rate increment 0 Your code then should output on separate lines the balance on Jan 1st of each year and continue until the final balance becomes equal or more than two times the initial balance. At the end the program should write a message: "Your initial principal will be doubled in xx years" Sample output for the given input as below Starting Principal $2000.00 Starting Interst Rate = 4% Interest Rate Increment 5% Year Interest Rate Balnace on Jan 1 0.04 0.04 0.045 .05 .055 e.66 e.66 e.66 e,66 e,66 e,66 e.66 e.66 e.66 2000.e 2080.e 2173.6 2282.28 2407,81 2552.2 2705,41 2867.73 3039,8 3222.19 3415.52 3620,45 3837,68 4067,94 10 12 13 Your principal will be doubled in 13 years