Create a function that calculates both compound and simple interest in python The user should be able to enter the sum invested, interest rate, duration in years and whether they wish to calculate simple or compound interest. The function should return the interest accrued and the final total amount. The resulting statement should be in this format: For , €100.00 invested at 2.0% Compound Interest for 1 year(s), you will earn €2.00 interest, and you will receive a total sum of €102.00.
Max Function
Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.
Power Function
A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:
Create a function that calculates both compound and simple interest in python
The user should be able to enter the sum invested, interest rate, duration in years and whether they wish to calculate simple or compound interest.
The function should return the interest accrued and the final total amount.
The resulting statement should be in this format:
For , €100.00 invested at 2.0% Compound Interest for 1 year(s),
you will earn €2.00 interest, and you will receive a total sum of €102.00.
Step by step
Solved in 4 steps with 2 images
