Write a Python program to Calculate Compound Interest with an example. Before we start the program, let me show you the formula behind this Compound Interest:
Future CI = Principal Amount * ( 1 + ROI ) Number of years)
The above calculation is called Future Compound Interest. Because it contains both Principal Amount & CI. To get Compound Interest: Compound Interest = Future CI – Principal Amount.
Python Program to Calculate Compound Interest
This program allows Python users to enter the Principal Amount, Rate of Interest, and time period (Number of years). Using those values, it calculates compound Interest using the above-specified formula.
import math
princ_amount = float(input(" Please Enter the Principal Amount : "))
rate_of_int = float(input(" Please Enter the Rate Of Interest : "))
time_period = float(input(" Please Enter Time period in Years : "))
ci_future = princ_amount * (math.pow((1 + rate_of_int / 100), time_period))
compound_int = ci_future - princ_amount
print("Future Compound Interest for Principal Amount {0} = {1}".format(princ_amount, ci_future))
print("Compound Interest for Principal Amount {0} = {1}".format(princ_amount, compound_int))
