Mathematics, 21.06.2020 14:57 niyatocute9212
When investing money, an important concept to know is compound interest.
The equation FV = PV (1+rate)^{periods} FV=PV(1+rate)
periods
relates the following four quantities.
The present value (PV) of your money is how much money you have now.
The future value (FV) of your money is how much money you will have in the future.
The nominal interest rate per period (rate) is how much interest you earn during a particular length of time, before accounting for compounding. This is typically expressed as a percentage.
The number of periods (periods) is how many periods in the future this calculation is for.
Finish the following code, run it, and submit the printed number. Provide at least four digits of precision after the decimal point.
Before submitting your answer, test your function on the following example.
\color{red}{\verb|future_value(500, .04, 10, 10)|}future_value(500, .04, 10, 10) should return 745.317442824
Hint: If you are stuck on this question, try working problem 7 of the Practice Exercises for Functions.
Answers: 3
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When investing money, an important concept to know is compound interest.
The equation FV = PV (1+ra...
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