Python

Exercise 3 (25 pts) example, we will use iterative loops to calculate compound interest. In economics, compound interest is the addition of interest to the principal sum Po of a loan or deposit at a certain rate annual rate r for given amount of time. The formula for this process is P- P (1 where P is the future value of the investment or loan, including interest Po is the principal investment amount (the initial deposit or loan amount) r is the annual interest rate n is the number of times interest is compounded per year t is the number of years the money is invested or borrowed For example, if an amount of $5,000 is deposited into a savings account, at an annual interest rate of 5% compounded monthly, the amount in the account after 5 years is given by P-5000(1 + ". 6416.79 12-5 -12-) = Implement this concept in Python by writing a program that does the following: 1. Ask the user to input the present value P 2. Ask the user to input the annual interest rate r 3. Ask the user to input the compounding frequency n 5. Print the compounded value of money year by year for every year until t