Program Overview
This Python program calculates compound profit for an insurance investor.
Each year, the annual profit is added to the investment, and the next year’s profit is calculated on the updated amount.
Inputs required:
- Initial investment amount
- Annual profit rate (percentage)
- Number of years (fixed at 11 in this example)
Python Code:
# Read inputs from user
investment = float(input("Enter initial investment amount: "))
annual_rate = float(input("Enter annual profit rate (%): "))
years = 11
# Compound profit calculation
for year in range(1, years + 1):
profit = investment * annual_rate / 100
investment += profit
print(f"Year {year}: Profit = {profit:.2f} | Total = {investment:.2f}")
# Final result
print(f"\nFinal amount after {years} years: {investment:.2f}")
Sample Output:
Enter initial investment amount: 1000000
Enter annual profit rate (%): 12
Year 1: Profit = 120000.00 | Total = 1120000.00
Year 2: Profit = 134400.00 | Total = 1254400.00
...
Year 11: Profit = 337842.07 | Total = 3179645.84
Final amount after 11 years: 3179645.84
Step-by-Step Explanation:
- Each year, profit is calculated using profit = investment × rate / 100
- The profit is added to the investment
- The next year’s profit is calculated on the updated total
- After 11 years, the final amount is displayed