Suppose that have a savings account with $1,000 that offers an annual interest rate of 3.3.
Determine the value of the account of after 10 years if the interest rate is compounded:
by the second.
Conjecture what happens as the number of compounding per year increases.
def calc(p, r, n, t):
p = 1000
for i in range(t):
p = p * (1 + r/n)
The more compounding per year seems to make the amount in the savings account increase exponentially. Which makes sense since the amount of compounding also increases exponentially