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Python: Compute the future value of a specified principal amount, rate of interest, and a number of years

Python Basic: Exercise-39 with Solution

Write a Python program to compute the future value of a specified principal amount, rate of interest, and a number of years.

The formula for future value with compound interest is FV = P(1 + r/n)^nt.
FV = the future value;
P = the principal;
r = the annual interest rate expressed as a decimal;
n = the number of times interest is paid each year;
t = time in years.

Test Data : amt = 10000, int = 3.5, years = 7
Expected Output : 12722.79

Sample Solution:

Python Code:

amt = 10000
int = 3.5
years = 7
future_value = amt*((1+(0.01*int)) ** years)
print(round(future_value,2))

Sample Output: 

12722.79
chart: Compute the future value of a specified principal amount, rate of interest, and a number of years.

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Python: Tips of the Day

Find current directory and file's directory:

To get the full path to the directory a Python file is contained in, write this in that file:

import os 
dir_path = os.path.dirname(os.path.realpath(__file__))

(Note that the incantation above won't work if you've already used os.chdir() to change your current working directory, since the value of the __file__ constant is relative to the current working directory and is not changed by an os.chdir() call.)

To get the current working directory use

import os
cwd = os.getcwd()

Documentation references for the modules, constants and functions used above:

  • The os and os.path modules.
  • The __file__ constant
  • os.path.realpath(path) (returns "the canonical path of the specified filename, eliminating any symbolic links encountered in the path")
  • os.path.dirname(path) (returns "the directory name of pathname path")
  • os.getcwd() (returns "a string representing the current working directory")
  • os.chdir(path) ("change the current working directory to path")

Ref: https://bit.ly/3fy0R6m