Program to Calculate Compound Interest in Python

Learn about Program to Calculate Compound Interest in Python in the below code example. Also refer the comments in the code snippet to get a detailed view about what’s actually happening.

Contents

Program to Calculate Compound Interest in Python

# Python program to find compound interest

# inputs from user
principal = float(input('principal amount: '))
rate = float(input('interest rate: '))
time = float(input('time (in years): '))

number = float(input('Number of times that interest is compounded per year: '))

# conversion rate
rate = rate/100

# calculating the total amount
amount = principal * pow( 1+(rate/number), number*time)

# calculating the compound interest
ci = amount - principal

# print result
print('Compound interest = %.2f' %ci)
print('Total amount = %.2f' %amount)

Output:

principal amount: 5000
interest rate: 3
time (in years): 5
Number of times that interest is compounded per year: 3
Compound interest = 804.84
Total amount = 5804.84

Hope above code works for you and Refer the below Related Codes to gain more insights. Happy coding and come back again.