Python program to calculate simple and compound interest.
Are you looking to calculate interest on a loan or investment using Python? Whether you’re a student just learning to code or a seasoned developer, understanding how to calculate simple and compound interest is a valuable skill.
In this article, we’ll show you how to write a Python program to calculate simple and compound interest, and we’ll explain some basic concepts related to interest.
First, let’s define some terms related to interest:
Principal (P): The amount of money borrowed or invested.
Rate (R): The annual interest rate as a percentage.
Time (N): The length of time the money is borrowed or invested.
Simple interest is calculated using the formula: Simple interest = (P * N * R)/100 Compound interest is calculated using the formula: Compound interest = P * (pow((1 + R / 100), N))
