Use python language, please

Scenario: To calculate the Simple and Compound Interests, you will request the following inputs from the user. P = The principal amount R = The rate of interest in % (per annum) Y = Time duration in Number of year M = Number of Months Once you have the inputs, you will use the following formulae to calculate Simple and Compound Interests and print them. For compound interest, assume that the interest is compounded annually. Simple Interest = PxNxr Compound Interest = (Px(1+r)^N) - P Before applying the formulae to the inputs, you need to perform appropriate conversions. Please note that the formulae replace M, Y and R with N and r. Where N is the time period in years obtained by combining Y (years) and M (months). Therefore, N will have a fractional part if M is non-zero. Similarly ris obtained by dividing R by 100. The conversion works as follow: N = Y + M/12 r = R/100 Sample 1/O: Enter the principal amount: 1000 Enter interest in % (per annum): 5 Enter Time duration in Number of year: 1 Enter Number of Months: 5 Simple Interest: 70.83 Compound Interest: 71.56