A group of students is arguing about which are better terms for a loan with compound interest—longer time with lower interest, or shorter time with higher interest. They decide to write a program to calculate each total so that they can compare between both the conditions:
principal = 10000
rate = 10.25
time = 5
Amount = principal * (pow((1 + rate / 100), time))
Total = Amount + principal
print("Compound interest is", Amount + principal)
rate = 5.25
time = 10
Amount = principal * (pow((1 + rate / 100), time))
print("Compound interest is", Amount + principal)
Which code should be placed into a function?
(1 point)
Responses
print("Compound interest is", Amount + principal)
print("Compound interest is", Amount + principal)
Amount = principal * (pow((1 + rate / 100), time))
Amount = principal * (pow((1 + rate / 100), time))
principal = 10000
principal = 10000
rate = 10.25
Correct response:
- Amount = principal * (pow((1 + rate / 100), time))
- Amount = principal * (pow((1 + rate / 100), time))