Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate the amount that you will have after a specific number of months. The formula is as follows: F=P×(1+i)tF=P×(1+i)t The terms in the formula are: • F is the future value of the account after the specified time period.• P is the present value of the account.• i is the monthly interest rate.• t is the number of months.• F is the future value of the account after the specified time period.• P is the present value of the account.• i is the monthly interest rate.• t is the number of months. $$ Write a program that prompts the user to enter the account’s present value, monthly interest rate, and the number of months that the money will be left in the account. The program should pass these values to a function that returns the future value of the account, after the specified number of months. The program should display the account’s future value.
Max Function
Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.
Power Function
A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:
Suppose you have a certain amount of money in a savings account that earns compound
monthly interest, and you want to calculate the amount that you will have after a specific
number of months. The formula is as follows:
The terms in the formula are:
$$ Write a program that prompts the user to enter the account’s present value, monthly interest rate, and the number of months that the money will be left in the account. The program should pass these values to a function that returns the future value of the account, after the specified number of months. The program should display the account’s future value.
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