Question: Write a Python program which prompts the user to enter a number representing an initial deposit into a bank account. Assuming an annual interest rate

Write a Python program which prompts the user to enter a number representing an initial deposit into a bank account. Assuming an annual interest rate of 4%, calculate the number of years required for the amount to be greater than 1 million.

Hint: You will likely need to use a while loop

Sample output

Please enter the starting balance: 123456 In 54 years at 4% compounded interest, you will be a millionaire!! 

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!