5. The formula for computing the final amount if one is earning compound interest is given on Wikipedia as calculating number ot years nt e A = P(1+-) Amount Where, number of times the interest i compounde d per year Annual nonmi nal interest rate as adecimal • P = principal amount (initial investment) • r= annual nominal interest rąte (as a decimal) (OCcurs, oncE every yers • n=number of times the'interest is compounded per year • t = number of years P= 10000 Pミ12 E 0.08 Write a Python program that assigns the principal amount of R10000 to variable p, assign to n the value 12, and assign to r the interest rate of 8%. Then have the program prompt the user for the number of months t that the money will be compounded for. Calculate and print the final amount after t months. t= int cinput c"what is the number Ok month that the morey will be Compounded for ?")

Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter16: Probabilistic Inventory Models
Section16.3: The News Vendor Problem: Discrete Demand
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5. The formula for computing the final amount if one is earning compound interest is given on
Wikipedia as
calculating
number of years
nt
A = P(1+
%3D
Amount
Where,
Annual nonmi nal interest
rate as adecimal
compounde d per year
• P= principal amount (initial investment)
• r= annual nominal interest rąte (as a decimal)
COcCurs unce.every years
•n=number of times the interest is compounded per year
• t = number of years
P= 10000
Pミ12
= 0.08
Write a Python program that assigns the principal amount of R10000 to variable p, assign to n
the value 12, and assign to r the interest rate of 8%. Then have the program prompt the user for
the number of months t that the money will be compounded for. Calculate and print the final
amount after t months.
t= int cinput ("What is the number ok month
that the morey will be Compounded
for ?")
low t
Thinl
+h Duth
Transcribed Image Text:5. The formula for computing the final amount if one is earning compound interest is given on Wikipedia as calculating number of years nt A = P(1+ %3D Amount Where, Annual nonmi nal interest rate as adecimal compounde d per year • P= principal amount (initial investment) • r= annual nominal interest rąte (as a decimal) COcCurs unce.every years •n=number of times the interest is compounded per year • t = number of years P= 10000 Pミ12 = 0.08 Write a Python program that assigns the principal amount of R10000 to variable p, assign to n the value 12, and assign to r the interest rate of 8%. Then have the program prompt the user for the number of months t that the money will be compounded for. Calculate and print the final amount after t months. t= int cinput ("What is the number ok month that the morey will be Compounded for ?") low t Thinl +h Duth
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