5 (1)

5 (1)

Overview of this book

Are you looking to start developing artificial intelligence applications? Do you need a refresher on key mathematical concepts? Full of engaging practical exercises, The Statistics and Calculus with Python Workshop will show you how to apply your understanding of advanced mathematics in the context of Python. The book begins by giving you a high-level overview of the libraries you'll use while performing statistics with Python. As you progress, you'll perform various mathematical tasks using the Python programming language, such as solving algebraic functions with Python starting with basic functions, and then working through transformations and solving equations. Later chapters in the book will cover statistics and calculus concepts and how to use them to solve problems and gain useful insights. Finally, you'll study differential equations with an emphasis on numerical methods and learn about algorithms that directly calculate values of functions. By the end of this book, you’ll have learned how to apply essential statistics and calculus concepts to develop robust Python applications that solve business challenges.
Preface
1. Fundamentals of Python
Free Chapter
2. Python's Main Tools for Statistics
3. Python's Statistical Toolbox
4. Functions and Algebra with Python
5. More Mathematics with Python
6. Matrices and Markov Chains with Python
7. Doing Basic Statistics with Python
8. Foundational Probability Concepts and Their Applications
9. Intermediate Statistics with Python
10. Foundational Calculus with Python
11. More Calculus with Python
12. Intermediate Calculus with Python

Interest Calculations

There's a crucial tool in the study of differential equations that originated in the study of interest calculations in the middle ages. Let's take a look at the following exercise.

Exercise 12.01: Calculating Interest

A savings account pays 2% annual interest. If \$3,500 is invested, how much money is in the account after 5 years?

The formula for simple interest is as follows:

Figure 12.4: Formula for simple interest

Here, I is the interest, P is the principal or the original amount invested, r is the rate of interest or growth, and t is the time the amount has been invested for. By this formula, the interest earned on the amount is I = (3500)(0.02)(5) = \$350. Follow these steps to complete this exercise:

1. This is a good opportunity to start a program that will take in an initial amount, interest rate, and time and output the interest earned using the preceding formula:
```def amount(p0,rate,t):
...```