Suppose you have a certain amount of money in a savings account that earns compound monthly interest, and you want to calculate

Question

1 month ago

10

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)^t

• 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 takes the account's present value, monthly interest rate, and the number of months that the money will be left in the account as three inputs from the user. The program should pass these values to a function thatreturns the future value of the account, after the specified number of months. The program should print the account's future value.

Sample Run

Enter current bank balance:35.7↵
Enter interest rate:0↵
Enter the amount of time that passes:100↵ 35.7

Computers and Technology

2 answers:

Natasha_Volkova [1K] · Answer 1 · 2026-03-28T10:19:02+03:00

Refer to the code below alongside the explanatory notes. Explanation: Using Python within the Spyder program, one can draft the following code: # INPUTS p = float(input("Enter current bank balance: ")) i = float(input("Enter interest rate in %: ")) t = int(input("Enter the amount of time that passes: ")) # OUTPUTS f=p*(1+ (i/100))**t print("The future value is:", f) This assumes the interest rate provided is percentage-based, hence divided by 100 for conversion. An example result output is shown as follows: Enter current bank balance: 35.7 Enter interest rate in %: 0 Enter the amount of time that passes: 100 The future value is: 35.7.

amid [951] · Answer 2 · 2026-03-28T10:20:18+03:00

amid [951]1 month ago

4 0

p=float(input("Enter current bank balance:")) i=float(input("Enter interest rate:")) t=float(input("Enter the amount of time that passes:")) print((p *((1+i)*t))) Explanation: If this appears odd, it's due to a phone input glitch.