itsakcode / customer_banking

AI Bootcamp Challenge 3

AK Bank

AI Bootcamp Challenge 3 - Create an application to calculate interest earned for Savings Account and Certificate of Deposit.

User will select type of account for which they need to check balance and interest earned. Provide all the required details balance, apr and duration. User will be provided with details of current balance and how much interest they earned.

Project Structure

.
├── Account.py
├── README.md
├── cd_account.py
├── customer_banking.py
├── savings_account.py
└── utils.py

Calculations

Interest earned is calculated using below formula's for each account type,

Savings Account

balance * (apr/100 * months/12)

Certificate of Deposit

(principal * (1 + (rate / duration) ) ** ( duration * year )) - principal ¹

Sample Output

Footnotes

1. https://courses.lumenlearning.com/mathforliberalartscorequisite/chapter/compound-interest-calculator-certificates-of-deposit/ ↩