Write a program that will tell the user how much they can earn on a deposit when compound interest is applied. If you don't know anything about compound interest, follow the instruction below:
Ask the user for the following information: initial_amount
, interest_rate
, annual compounding_frequency
, time
– expressed in years.
Then, calculate the final_amount
as:
\text{initial\_amount} \cdot \Big(1 + \frac{\text{interest\_rate}}{100 \cdot \text{compounding\_frequency}}\Big)^{\text{compounding\_frequency} \cdot \text{time}}
Show the following sentence: At the end of the period, you will have {final_amount}
We've already prepared the inputs in the Code Editor. Implement the formula and show the sentence.