Instructions

Use Python IDE to create a solution for the scenario presented in each question.

GIC $($Guaranteed Investment Certificates$)$

Write a program that asks the user to enter a GIC term in years and an amount to invest.

Using the table below, select the correct interest rate based upon term and calculate and

print the interest accumulated, and total amount at the end of the term. Use a simple

interest calculation and assume interest is not compounded annually.

total interest $=$ amount $*$ interest rate $*$ years invested

Use constant variables to hold rates. Assume only valid data is entered as inputs.

Term $($in Years$)$ Interest Rate $($as Percentage$)$

$14\mathrm{.}9$

$24\mathrm{.}1$

$34\mathrm{.}0$

$43\mathrm{.}8$

$53\mathrm{.}75$

Sample runs: $($inputs in boid$)$

Run your program $3$ times to produce the following output$)$

Enter GIC Term: $3$

Enter amount to invest: $10000$

Interest at end of term $=$$$1,200\mathrm{.}00$

Total at end of term $=$$$11,200\mathrm{.}00$

$2022,$ Southem Alberta Institute of Technology

Enter GIC Term: $1$

Enter amount to invest: $400$

Interest at end of term $=$$$19\mathrm{.}60$

Total at end of term $=$$$419\mathrm{.}60$

Enter GIC Term: $5$

Enter amount to invest: $9999$

Interest at end of term $=$$$1,874\mathrm{.}81$

Total at end of term $=$$$11,873\mathrm{.}81$