Jane is evaluating different investment options for her savings. She wants to know whether simple interest or compound interest will yield a better return over a given period. Create a program to help Jane compare the two options based on her principal amount, annual interest rate, and the time period in years.Input format :The input consists of three double values: the principal amount (p), the annual interest rate (r), and the time period(n) in years.Output format :The first line of output prints the simple interest, rounded off to one decimal place.The second line prints the compound interest, rounded off to one decimal place.The third line prints one of the following:If compound interest is greater than simple interest, print "Recommendation: Compound Interest is a Better Investment".Otherwise, print "Recommendation: Both Simple and Compound Interest are Equal".Refer to the sample output for formatting specifications.Code constraints :100.00 ≤ p ≤ 10000.000.00 ≤ r ≤ 15.001.00 ≤ n ≤ 50.0Sample test cases :Input 1 :1500.000.031.0Output 1 :Simple Interest is 45.0Compound Interest is 45.0Recommendation: Both Simple and Compound Interest are EqualInput 2 :2000.750.046.5Output 2 :Simple Interest is 520.2Compound Interest is 581.0Recommendation: Compound Interest is a
Question
Jane is evaluating different investment options for her savings. She wants to know whether simple interest or compound interest will yield a better return over a given period. Create a program to help Jane compare the two options based on her principal amount, annual interest rate, and the time period in years.Input format :The input consists of three double values: the principal amount (p), the annual interest rate (r), and the time period(n) in years.Output format :The first line of output prints the simple interest, rounded off to one decimal place.The second line prints the compound interest, rounded off to one decimal place.The third line prints one of the following:If compound interest is greater than simple interest, print "Recommendation: Compound Interest is a Better Investment".Otherwise, print "Recommendation: Both Simple and Compound Interest are Equal".Refer to the sample output for formatting specifications.Code constraints :100.00 ≤ p ≤ 10000.000.00 ≤ r ≤ 15.001.00 ≤ n ≤ 50.0Sample test cases :Input 1 :1500.000.031.0Output 1 :Simple Interest is 45.0Compound Interest is 45.0Recommendation: Both Simple and Compound Interest are EqualInput 2 :2000.750.046.5Output 2 :Simple Interest is 520.2Compound Interest is 581.0Recommendation: Compound Interest is a
Solution
Here is a Python program that can help Jane compare the two options:
def calculate_interest(p, r, n):
# Calculate simple interest
simple_interest = (p * r * n) / 100
# Calculate compound interest
compound_interest = p * (pow((1 + r / 100), n)) - p
# Print the results
print("Simple Interest is {:.1f}".format(simple_interest))
print("Compound Interest is {:.1f}".format(compound_interest))
# Provide recommendation
if compound_interest > simple_interest:
print("Recommendation: Compound Interest is a Better Investment")
elif compound_interest == simple_interest:
print("Recommendation: Both Simple and Compound Interest are Equal")
# Test the function with the provided inputs
calculate_interest(1500.00, 0.03, 1.0)
calculate_interest(2000.75, 0.04, 6.5)
This program first calculates the simple interest and compound interest based on the provided principal amount, annual interest rate, and time period. It then prints these values and provides a recommendation based on which interest is greater. If the compound interest is greater than the simple interest, it recommends compound interest. If they are equal, it states that both are equal.
Similar Questions
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