Authors:
Y Daniel Lang
Chapter:
Programming
Exercise:
Programming Excercises
Question:19 | ISBN:978013274719 | Edition: 6
Question
(Financial application: calculate future investment value) Write a program that reads in an investment amount, the annual interest rate, and the number of years,and displays the future investment value using the following formula:
futureInvestmentValue = investmentAmount * (1 + monthlyInterestRate)^numberOfMonths
For example, if you enter the amount 1000, an annual interest rate of 4.25%,and the number of years as 1, the future investment value is 1043.33. Here is a sample run:
Enter investment amount:1000
Enter annual interest rate:4.25
Enter number of years:1
Accumulated value is 1043.33
Answer
Python program:
#Prompt the investment Amount
investmentAmount=eval(input("Enter investment amount:"))
#Prompt the annual interest rate
annualinterestrate = eval(input("Enter annual interest rate:"))
#Prompt the number of years
numberofyears = eval(input("Enter number of years:"))
#Calculate the monthly Interest Rate percentage
monthlyInterestRatePer=annualinterestrate/12
#Calculate the monthly Interest Rate
monthlyInterestRate = monthlyInterestRatePer/100
#Calculate the number of months
numberOfMonths = numberofyears * 12
#Calculate the future investment value using the following formula
futureInvestmentValue =investmentAmount * (1+monthlyInterestRate)**numberOfMonths
#Display the Accumulated value
print("Accumulated value is ",int(futureInvestmentValue*100)/100)
Output:
Python 3.2.1 (default, Jul 10 2011, 21:51:15) [MSC v.1500 32 bit (Intel)] on win32
Type "copyright", "credits" or "license()" for more information.
>>> ================================ RESTART ================================
>>>
Enter investment amount:1000
Enter annual interest rate:4.25
Enter number of years:1
Accumulated value is 1043.33
>>>