Create and use a function called compute compound interest

Assignment Help Computer Engineering

Reference no: EM132112742

PYTHON

Your local bank wants you to write a program that would allow a bank customer to see what his/her savings account balance would be based on an initial balance, interest rate, and number of years the money was left in the savings account. You may assume that interest is compounded yearly.

For example, 10% interest on a $100 initial balance would yield $10 in interest after 1 year.

Your program should create and use a function called compute_compound_interest that takes 3 parameters (initial balance, interest rate, and years). It should then perform the compound interest calculations based upon the years parameter. Lastly, it should return the total balance.

Design your program to match the sample execution below.

Sample Execution 1

Welcome to TD Bank! Please enter an initial balance: 100 Please enter an interest rate: 0.1 Please enter the number of years to calculate: 1 After 1 year(s) your balance will be $110.00.
Sample Execution 2

Welcome to TD Bank! Please enter an initial balance: 1000 Please enter an interest rate: 0.01 Please enter the number of years to calculate: 20 After 20 year(s) your balance will be $1220.19.

Reference no: EM132112742

Questions Cloud

Procedure to investigate different types of cyber-crime : SIT703: Advanced Digital Forensics - Case Investigation Report - apply knowledge of security on Windows network domain and follow standard procedure

Create a class that will take into it the amount of money : You have been asked to work on a much larger project for a mobile app that helps people manage their budget.

Calculate the balance and the other to determine the message : Your portion of the code requires you to create a class that will take into it the amount of money someone has earned for a month and their monthly expenses.

Displays the frequency table of the characters in the file : Displays the frequency table of the characters in the file, and displays the Huffman code for each character.

Create and use a function called compute compound interest : Your local bank wants you to write a program that would allow a bank customer to see what his/her savings account balance would be based on an initial balance.

Write a statement that toggles on_off_switch : Assume that x is a string variable has been given a value. Write an expression whose value is true if and only if x is a lower-case letter.

Write your first standalone python script : Your script will utilize the following string definition. testString = "THE QUICK BROWN FOX JUMPS OVER THE LAZY DOG" .

The element just before the element in plist whose index : Python:Assume that a variable named plist has been defined and is associated with a list that consists of 12 elements.

Create a deck of cards : Create a deck of cards. A card is a tuple containing a number between 1 and 13 representing the cards value and a string contianing "clubs".

User Account

All Pages