CoCalc -- 10-4-21 Participation_by_Erik

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Project: Erik Yan - Fall 2021 MAT1630

Path: Participation/10-4-21 Participation_by_Erik_Yan.ipynb

Views: ¹⁹
Image: ubuntu2004

Kernel: Python 3 (system-wide)

In [1]:

def com_int(p,r,n,c,y):
    for i in range(n*y):
        p = p*(1+r/n)+c 
    return p

In [3]:

com_int(1400,0.034,12,50,2)

Out[3]:

2738.291988214431

This would mean that if someone deposits $ 1,400 into an account with an interest rate of 3.4% along with $50 dollars a month for 2 years, the account would be$ 2,738.29.

In [4]:

com_int(1400,0.034,12,60,3)

Out[4]:

3820.734243408963

In [5]:

2738.29+3820.73

Out[5]:

6559.02

So after the 2 years, this person is able to put in $ 60 a month and they would like to know how much the account is worth after 5 years. The account after 5 years would be worth $6,559.02

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