# Program to figure out Effective Interest Rate
# when an annual interest rate is compounded monthly

principal = 100.00
print "Principal:",principal
annualRate = float(raw_input("Enter annual interest rate: "))
print "Annual interest rate: ",annualRate
monthlyRate = annualRate/12.0

month = 0
balance = principal

while month < 12:
    # This block is done twelve times
    interest = balance * monthlyRate/100.0
    balance = balance + interest
    month = month+1

print "Balance after one year is:", balance
print "Effective Interest Rate is :",(balance-principal)

raw_input("Type enter to exit.")