# Answer to Question #54762 in AJAX | JavaScript | HTML | PHP for cam

Question #54762

Suppose you have a certain amount of money in a savings account that earns compound interest, and you want to calculate the amount that you will have after a specific number of months. The formula is as follows:

F = P X (1 + i) ^ t

The terms in the formula are:

F is the future value of the account after the account after the specified time period.

P is the present value of the account.

i is the monthly interest rate.

t is the number of months.

Write a program that executes a loop 5 times. Each step of the loop generate a random value for P, i (between 0 and 10 percent) , and the number of months betwen (1 and 100). The loop should then pass these values to a function that returns the future value of the account, after the specified number of months. The program should display the accounts future value each pass. See sample output below:

Present Value: $500.00

Monthly Interest Rate: .07

Number of Months: 72

Future Value: $65,253.23

F = P X (1 + i) ^ t

The terms in the formula are:

F is the future value of the account after the account after the specified time period.

P is the present value of the account.

i is the monthly interest rate.

t is the number of months.

Write a program that executes a loop 5 times. Each step of the loop generate a random value for P, i (between 0 and 10 percent) , and the number of months betwen (1 and 100). The loop should then pass these values to a function that returns the future value of the account, after the specified number of months. The program should display the accounts future value each pass. See sample output below:

Present Value: $500.00

Monthly Interest Rate: .07

Number of Months: 72

Future Value: $65,253.23

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