Using Python : When $1000 is invested at 5% simple interest, theamount grows by $50 each year. When money is invested at 5%interest compounded annually, the amount at the end of each year is1.05 times the amount at the beginning of that year. Display theamounts after the first four years for a $1000 investment at 5%simple compound interest. See Fig.3.55.
Figure3.55)
simple Interest / compound Interest
1 $1050.00 $1050.00
2 $1100.00 $1102.50
3 $1150.00 $1157.62
4 $1200.00 $1215.51
Solution
Code:
P = 1000SI = 5/100CI = 5/100n = 1 #intert compounds yearlyT = 4print(“Simple Intrest / Compound Intrest”)for i in range(1, T+1): AS =
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