Write a program to calculate compound interest in python

Asked by admin @ 20/08/2021 in Physics viewed by 416 People

Write a program in python to calculate the compound interest

Answered by admin @ 20/08/2021

Explanation:

Python Program for compound interest

Compound Interest formula:

Formula to calculate compound interest annually is given by:

A = P(1 + R/100) t

Compound Interest = A – P

Where,

A is amount

P is principle amount

R is the rate and

T is the time span

Example:

Input : Principle (amount): 1200

Time: 2

Rate: 5.4

Output : Compound Interest = 1333.099243

# Python3 program to find compound

# interest for given values.

def compound_interest(principle, rate, time):

# Calculates compound interest

Amount = principle * (pow((1 + rate / 100), time))

CI = Amount - principle

print("Compound interest is", CI)

# Driver Code

compound_interest(10000, 10.25, 5)

# This code is contributed by Abhishek Agrawal.

Output:

Compound interest is 6288.946267774416

Please refer complete article on Program to find compound interest for more details!

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