** must be done using a while loop with nested statementsWrite a Python program that calculates the value of an investment with interest compounding annually. The program should allow the user to enter the beginning balance and the interest rate. This interest rate should be entered as a decimal number. For example, it should be entered as .05, instead of 5%. The program should output a table of the balance for each year. It should stop when the balance has tripled. It should also display when the balance has doubled. Be sure to right-align and format the year and balance numbers as shown in the samples below. Also, don’t forget to include your header and step comments in your code.Your program should function like this …Sample 1 Sample 2:Enter the beginning balance: 3000Enter the interest rate (such as .045) : .05YearCurrent Balance3,150.003,307.503,472.883,646.523,828.844,020.294,221.304,432.374,653.984,886.685,131.025,387.575,656.955,939.796,236.7812345678.9.101112131415The beginning balance doubled in 15 years.6,548.626,876.057,219.86161718197,580.85207,959.89218,357.89228,775.78239,214.57The beginning balance tripled in 23 years. Sample 1:Enter the beginning balance: 5000Enter the interest rate (such as .045): .075YearCurrent Balance15,375.005,778.126,211.48ו35 . ר67 ,67,178.157,716.518,295.258,917.399, 586.1910,305.1623456.910The beginning balance doubled in 10 years.11,078.0411,908.9012,802.0713,762.2214,794.3915,903.97111213141516The beginning balance tripled in l6 years.

NOTE Below is the answer for the given question. Hope you understand it well. If you have any…

Answered: must be done using a while loop with…

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

See similar textbooks

Related questions

Question

100%

** must be done using a while loop with nested statements

Write a Python program that calculates the value of an investment with interest compounding annually. The program
should allow the user to enter the beginning balance and the interest rate. This interest rate should be entered as a
decimal number. For example, it should be entered as .05, instead of 5%. The program should output a table of the
balance for each year. It should stop when the balance has tripled. It should also display when the balance has doubled.
Be sure to right-align and format the year and balance numbers as shown in the samples below. Also, don’t forget to
include your header and step comments in your code.
Your program should function like this …
Sample 1