Python

Bank Account Interest

Calculates the yearly interest of a bank account

The program uses a for loop to iterate each year of the bank account interest.

Example:

> python bank_account.py

> This program calculates the future value of a 10-year investment.

> Enter the amount invested each year (for 100 dollars enter "100"): 100

> Enter the annual interest rate (for 1% enter ".01": .05

> Enter the number of years to compound (for 5 year input "5"): 10

> year 1: balance of $105, a gain of $105

> year 2: balance of $215, a gain of $110

> year 3: balance of $331, a gain of $115

> year 4: balance of $452, a gain of $121

> year 5: balance of $580, a gain of $127

> year 6: balance of $714, a gain of $134

> year 7: balance of $854, a gain of $140

> year 8: balance of $1002, a gain of $147

> year 9: balance of $1157, a gain of $155

> year 10: balance of $1320, a gain of $162