Question: using a colab on google # Problem 4 # Suppose you receive $10,000 at the beginning of each year for 30 years. # If you

using a colab on google

using a colab on google # Problem 4 # Suppose you receive

# Problem 4 # Suppose you receive $10,000 at the beginning of each year for 30 years. # If you save all the money and earn 4% interest on your money per year, # how much will you have after 30 years? Make sure your code is general # enough so that you can change the annual amount received ($10,000) and # the time (30 years) and have your code still work. # # As an example, if you receive $10,000 a year for 2 years, with # 4% interest, you receive $10,000 the first year, which grows to # $10,000*(1.04)^2 after two years. The $10,000 that you receive the # second year has 1 year to grow, so it becomes $10,000*1.04. The total # amount you receive after 2 years is thus # $10,000*(1.04)^2 + $10,000*1.04 $21, 216. amount = 10000 num_years = 30 interest = 0.04

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!