Leibniz formula for π - Is this any good? (Python)

Question

I\'m doing an exercise that asks for a function that approximates the value of pi using Leibniz\' formula. These are the explanations on Wikipedia:

Answer 1

This was my approach:

def estPi(terms):
    outPut = 0.0
    for i in range (1, (2 * terms), 4):
        outPut = (outPut + (1/i) - (1/(i+2)))
    return 4 * outPut

I take in the number of terms the user wants, then in the for loop I double it to account for only using odds.

at 100 terms I get        3.1315929035585537
at 1000 terms I get       3.140592653839794
at 10000 terms I get      3.1414926535900345
at 100000 terms I get     3.1415826535897198
at 1000000 terms I get    3.1415916535897743
at 10000000 terms I get   3.1415925535897915
at 100000000 terms I get  3.141592643589326
at 1000000000 terms I get 3.1415926525880504
Actual Pi is              3.1415926535897932

Got to love a convergent series.