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.
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)
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
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