Question: Hello there, I need help w/ my assignment , clear answers plz. COMP 1900- Fall 2018 Lab 5 Homework: More Loops! (15 pts) Dus:; By
COMP 1900- Fall 2018 Lab 5 Homework: More Loops! (15 pts) Dus:; By the beginning of next week's lab session Gradet, Please refer to the COMP 1900 syllabus for your lab TA. Questions about grading? Contact himher first! Coding Style: Use camelCase for variable names, use consistent indentation in your code, and include a reasonable amount of comments throughout your code. The TAs may deduct points for poor coding style. Background Information Ever wanted to retire as a millionaire? Long-term saving with compound interest- the idea that any interest eamed on your money will itself earn interest in the future - is the key to this. For example, let's say that you invest $1000 now into the stock market, and you assume a somewhatconservative average real return of 6% per year. (This isn't technically "interest" in the usual sense of a guaranteed payment made by a bank, but to keep things simple we'll call it "interest" hiere. The calculations are exactly the same!) At the end of each year, you also contribute an extra $1000 into the account. Every year that passes, you will earn money from two sources: 1) the interest earned on your existing amount, and 2) your S1000 contribution. Here's how your money will grow over the first ten years: YearInterest Contribution End Balance 2860.00 3183.60 4374.62 5637.89 6975.32 8393.84 9897.47 11491.32 13180.79 4971.64 60.89 123.60 191.82 262.48 338.23 418.52 583.63 593.85 689,48 790.85 1e00.80 1006,e 1800.00 18e0.00 1660.80 1000.00 800.00 1890.0 1809.e9 1000.8e 1e In absolute terms, these numbers don't look terribly impressive. However, note that the interest earned every year keeps increasing, since it's based on the current amount in the account. Let's consider the same scenario, but over a 40-year working career. Here's what the growth looks like over the last ten years: 5088.18 5453.39 5840.59 6251.03 6686.09 7147.25 7636.09 8154.25 8703.51 9285.72 31 32 35 36 37 38 39 48 188e.0e 1890.0e 1e60.e0 1ee0.8e 1000.8e 1800.00 10e0.00 1eee.ee 1890.ee 1060.ee 98889.78 7343.16 184183.75 11434-78 119120.87 127268.12 135984.21 145e58.46 154761.97 165847.68 Now things are getting more interesting! You're earning much more in interest each year than your own contributions. In other words, your money is making more money for you
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