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

def myPi(iters):
    pi = 0
    sign = 1
    denominator = 1

    for i in range(iters):
        pi = pi + (sign/denominator)
        # alternating between negative and positive
        sign = sign * -1
        denominator = denominator + 2

    pi = pi * 4.0
    return pi

pi_approx = myPi(10000)
print(pi_approx)