please read the instructions file , then go ahead and write the code that is being asked using the formula that I uploaded , so that you get the produced graph that is needed.
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CSCI 127, In-Lab 12
Lab 12: matplotlib
Due: Thursday, April 12th no later than 11:59 p.m.
Partner Information: Complete this assignment individually.
Submission Instructions: Upload your solution, named YourFirstName-YourLastName-Lab12.py to the
BrightSpace Lab 12 Dropbox.
Deadline Reminder: Once this deadline passes, BrightSpace will no longer accept your Python submission
and you will no longer be able to earn credit. Thus, if you are not able to fully complete the assignment,
submit whatever you have before the deadline so that partial credit can be earned.
Gain experience with matplotlib to display information.
If an initial amount of money is deposited in a bank that pays interest, the future account balance can be
calculated using this Compound Interest Formula.
For this assignment, assume that interest is compounded once per year. In other words, for the formula
above, n = 1.
For this assignment, assume that the initial amount deposited is $100 in the year 2018. In other words, P =
Write a python program that is named according to the instructions above. The program should use
matplotlib to visualize the impact of a 5% versus a 10% interest rate on an initial deposit of $100.00. The
bank account amount should be displayed annually, starting in the year 2018 and ending in the year 2068.
The program should produce this graph as closely as possibly.
Grading – 10 points
1 point – The upper gray bar contains the words Compound Interest Display for Starting Amount of $100.
1 point – The x-axis is labeled Year and the y-axis is labeled Dollars.
1 point – The x-axis goes from 2018 to 2068 and the y-axis goes from 0 to 12500.
1 point – A box in the upper left part of the graph labels the black plus symbols as 5% interest and the blue
plus symbols as 10% interest.
2 points – 51 black plus symbols appear in the graph (1 point) and show the correct amounts (1 point).
2 points – 51 blue plus symbols appear in the graph (1 point) and show the correct amounts (1 point).
2 points – The underlying python code is of high quality and uses functions appropriately to avoid repeated
code (all or nothing).
If Time Remains
Work on Program 5, seeking feedback from your lab assistant if desired.
Compound Interest Formula
Compound Interest Formula
= principal amount (the initial amount you borrow or deposit)
= annual rate of interest (as a decimal)
= number of years the amount is deposited or borrowed for.
= amount of money accumulated after n years, including interest.
= number of times the interest is compounded per year
An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%,
compounded quarterly. What is the balance after 6 years?
Using the compound interest formula, we have that
P = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore,
So, the balance after 6 years is approximately $1,938.84.
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