Pyhton Assignment

Write a program in Python that computes the interest accrued on an account.

  • You can modify the â€œfutval.py” program given in Chapter 2 to accomplish it. Your program should use a counted loop rather than a formula.
  • It should prompt the user to enter the principal amount, the yearly interest rate as a decimal number, the number of compounding periods in a year, and the duration.
  • It should display the principal value at the end of the duration.
  • To compute the value in 10 years for example, the program should loop 10 * periods times and accrue rate /period interest on each iteration.
  • If the principal is $1,000.00, yearly interest rate is 0.04 (4%), compounding periods in a year are 4, and the duration is 10 years, then the program should display $1488.86.


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