Question: Write a python function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of

Write a python function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of years. assume interest is compounded yearly. The function signature you will create will be:

futureValue(initialBalance, interestRate, years)

#return the calculated value

Ex. The answer for initial balance of 1000, interest rate of 6% and years of 10 is 1790.85. Future Value = Initial Balance (1+Interest Rate) years.

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!

In python3 code. Business P5.23, Write a program that prints a paycheck. Ask the program user for the name of the employee, the hourly rate, and the number of hours worked. If the number of hours...

Business P5.23 in python3 code es.21 In Exercise P3.28 you were asked to write a program to convert a number to its inng Exercises 307 representation in Roman numerals. At the time, vou did not know...

Please write a C++ program that satisfies the following: Write a function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of years....

Write a function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of years. Assume interest is compounded yearly. Please make copy...

in c++, write a function that computes the balance of a bank account with a given initial balance and interest rate, after a given number of years. Assume interest is compounded yearly.

Create a Java file called CompoundInterestYourLastName. Write a method called computeBalance( ) that computes the balance of a bank account with a given initial deposit, annual interest rate, after a...

In Python: Write a function that calculates and computes the balance of a bank account with a given initial balance and interest rate, after a given number of years. Assume interest is compounded...

USING JAVA You will create one class that has two methods: main() and applyInterest(). main() reads the test data values and prints the results. You may want to do this in a loop. applyInterest()...

Create a Java file called Write a method called computeBalance() that computes the balance of a bank account with a given initial deposit, annual interest rate, after a given number of years for the...

At the market, Meyer buys a bunch of bananas for $0.65 per pound and a froze pizza for $4.99. the total or his purchase was $6.94, without tax. how many pounds of bananas did Meyer buy?

When Jen dies this year her gross estate included the following: . Cash $271,658 held in Jen's name Investments . Life Insurance House $2,790,007 title Tenants in Common with her husband Jake a U.S....

Question 1 8 Dora puts a compelling object in front of her nephew; then, when she covers it , the child acts as if it's no longer there. Dora's nephew is: a couple months old. around 8 months old....

Seved Help 14 Wisconsin Snowmobile Corp. is considering a switch to level production Cost efficiencies would occur under level production, and aftertax costs would decline by $31,500, but inventory...

From a Comparable Worth Standpoint, what is the situation with regard to Federal Gender-based Employee Pay Equity?

Provide an example of how drilling down further into information can yield new results.

What do Dimensions represent in OLAP Cubes?