How do you do this exercise problem 5)? Please explain 5:56 PM Sun Jan 16* 0 © 5%BackHowToThinkLikeAComputerScientist_LearningWithPython3_CSC_110.pdf5. The formula for computing the final amount if one is earning compound interest is given onWikipedia ascalculatingprincipal amothnti intialinuestmentAnumber of yearsT|number o f times the interest iscompounde d per year= PAmDuntWhere,Annual nomi nal interestdecimal• P= principal amount (initial investment)rate asa• r= annual nominal interest rąte (as a decimal)(Occurs, unce every years•nnumber of times the interest is compounded per year• t = number of yearsWrite a Python program that assigns the principal amount of R10000 to variable p, assign to nthe value 12, and assign tor the interest rate of 8%. Then have the program prompt the user forthe number of months t that the money will be compounded for. Calculate and print the finalamount after t months.How to Think Like a Computer Scientist: Learning with Python 3 »previous | next | index© Copyright 2011, Peter Wentworth, Jeffrey Elkner, Allen B. Downey and Chris Meyers. Created using Sphinx 1.0.7.DashboardCalendarTo DoNotificationsM Inbox

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Answered: exercise

Engineering

Computer Science

exercise

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Question

How do you do this exercise problem 5)? Please explain

5:56 PM Sun Jan 16
* 0 © 5%
Back
HowToThinkLikeAComputerScientist_LearningWithPython3_CSC_110.pdf
5. The formula for computing the final amount if one is earning compound interest is given on
Wikipedia as
calculating
principal amothnti intialinuestment
A
number of years
T|
number o f times the interest is
compounde d per year
= P
AmDunt
Where,
Annual nomi nal interest
decimal
• P= principal amount (initial investment)
rate asa
• r= annual nominal interest rąte (as a decimal)
(Occurs, unce every years
•nnumber of times the interest is compounded per year
• t = number of years
Write a Python program that assigns the principal amount of R10000 to variable p, assign to n
the value 12, and assign tor 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.
How to Think Like a Computer Scientist: Learning with Python 3 »
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