(python Solution)

Financial application (compound value): Suppose you save $100 each month into a savings account with the annual interest rate 5%. So, the monthly interest rate is: 100(1+0.00417)=100.417 After the first month, the value in the account becomes 100 * (1 + 0.00417) = 100.417 After the second month, the value in the account becomes (100 + 100.417) * (1 + 0.00417) = 201.252 After the third month, the value in the account becomes (100 + 201.252) * (1 + 0.00417) = 302.507 Write a program that prompts the user to enter an amount (e.g., 100), the annual interest rate (e.g., 5), and the number of months (e.g., 6), and displays the amount in the savings account after the given month.

Enter the amount to be saved for each month: 100 Enter the annual interest rate: 5 Enter the number of months: 4 Savings Amount 100.41666666666667 Month 302.50695167824074 404.18406397690006 After the 4 th month, the account value is 404.18