This project demonstrates a financial concept called simple interest. The simple interest is calculated using the formula I = Prt. (I - interest, P - principle/initial investment, r - rate, t - time) PV stands for Present Value, how much money you put into the investment. r stands for the rate, what percentage of your initial investment you get back every year. t stands for time, how many years you want to have the money invested for. FV stands for future value. It's calculated by adding the initial investment (PV) to the amount of interest you would get (I).
Thanks to my financial math professor for teaching me this concept! :)
