Authors:
Y Daniel Lang
Chapter:
Programming
Exercise:
Programming Excercises
Question:20 | ISBN:978013274719 | Edition: 6
Question
(Financial application: calculate interest) If you know the balance and the annual percentage interest rate, you can compute the interest on the next monthly payment using the following formula:
interest = balance * (annualInterestRate / 1200)
Write a program that reads the balance and the annual percentage interest rate and displays the interest for the next month. Here is a sample run:
Enter balance and interest rate (e.g., 3 for 3%):1000, 3.5
The interest is 2.91667
Answer
Python code:
#Prompt the user to enter balance and annual Interest Rate
balance,annualInterestRate = eval(input("Enter balance and interest rate (e.g., 3 for 3%):"))
#Calculate the interest rate
interest = balance * (annualInterestRate / 1200)
#Display the interest
print("The interest is:",interest)
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 balance and interest rate (e.g., 3 for 3%):1000,3.5
The interest is: 2.916666666666667
>>>