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Formula to calculate compound interest annually is. A = P (1 + R/100) t. Compound Interest = A – P. Where, A is the amount, P is the principal amount, R is the rate and T is the time span. def compound_interest(principal, rate, time): Amount = principal * (pow((1 + rate / 100), time)) CI = Amount - principal.
Jun 17, 2018 · This is the fixed code. The intrest needs to be calculated as a decimal. # This program takes the original principal, # calculates the annual interest rate # calculates the number of times the interest is compounded # calculates how many years the account will earn interest # and lastly displays the ending principal # Input the original principal.
Dec 15, 2020 · num += num * percentage. return percentage. However, you'd probably be better off solving this problem by simply re-arranging the compound interest formula: (where A = Final balance, P = Initial balance, r = Interest rate, n = number of times interest applied per time period, and t = number of time periods elapsed.)
Jul 24, 2013 · return compound_interest_recursive(principal * rate, rate, years-1) This code assumes that rate is expressed as a ratio - for example, 15% would be 1.15. This is the coding equivalent of the following statements: The compound after zero years is the same as the principal. The compound interest after N years is the compound interest after N-1 ...
Feb 4, 2014 · I would like the output to look like this: Enter annual deposit: 1000 Enter interest rate: 12 Enter number of years until retirement: 10 What's the current balance of your account: 5000 How many years will you make your annual deposit? 5 After 1 year, you have: $ 6720.0 After 2 years, you have: $ 8646.4 After 3 years, you have: $ 10803.97 After ...
Oct 21, 2020 · I'm very new to programming and have been set a task to write a simple function (as opposed to just printing each month's formula) that takes a deposit and number of months and returns the compounding interest after 6 months, with a fresh deposit of the same amount every month. Any help or nudges in the right direction would be greatly appreciated.
Mar 8, 2017 · My question: I want to calculate cumulative compound percentage return for each year in the series (2003, 2004...2010). The only way I can think of doing it is to iterate through my initial series, slice it by year, set the first element to 1, and calculate the return for each year.
May 22, 2014 · Here p is the number of parts of the year that is used, i.e., p=4 for quarterly and p=12 for monthly, n is the number of payments, i.e., the payment schedule lasts n/p years, and then r is the nominal annual interest rate, used in r/p to give the interest rate over each part of the year.
Feb 10, 2018 · Create a mortgage/loan calculator. * Have the user enter the cost of the loan, the interest rate, and the number of years for the loan * Calculate the monthly payments with the following formula * * M = L [i (1+i)n] / [ (1+i)n-1] * M = Monthly Payment * L = Loan Amount * I = Interest Rate (for an interest rate of 5%, i = 0.05 * N = Number of ...
c: the interest rate p.a. (interests is calculated and added every month, 1/12 of the interest is added. So if the interest is on 12%, 1% interest is added every month). d: the amount of money owed after the end of the period.
