Question: USING PYTHON: I A5) Simple vs Compound Interest. When $1000 is invested at 15% simple interest, the amount grows by $50 each year. When money

USING PYTHON:USING PYTHON: I A5) Simple vs Compound Interest. When \$1000 is invested

I A5) Simple vs Compound Interest. When \$1000 is invested at 15% simple interest, the amount grows by \$50 each year. When money is invested at \5% interest compounded annually, the amount at the end of each year is 1.05 times the amount at the beginning of that year. Write a program that ask user to provide the number of years (> 10 years) and print comparison of the Simple vs Compound Interest for each year. Use for loop. Make sure that number and table formattings are the same as in the example For example: Enter number of years: 4 Simple Interest 1 1,050.00 2 1,100.00 3 1,150.00 4 1,200.00 Compound Interest 1,050.00 1,102.50 1,157.62 1,215.51

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 Databases Questions!