Answer
Enter your investment amount: 1000
Enter annual interest rate: 4.25
Enter the number of years: 1
Your future investment value is: 1043.33
Work Step by Step
The code for the required program is shown below:
1. amount=eval(input("Enter your investment amount: "))
2. rate=eval(input("Enter annual interest rate: "))
3. year=eval(input("Enter the number of years: "))
4. futureInvestmentValue=amount*(1+rate)**(12*year)
5. print("Your future investment value is: ", futureInvestmentValue)
The user enters his amount, rate and number of years for investment. Then, his future investment value is calculated according to the given formula, and we get the expected results.
