Python Question. Write a function called calculatePayment() that takes three inputs: the total cost of the car, the interest rate, and the total months of the car payments. The function will then calculate the monthly payment. I have included a picture of the formula.

How do you calculate a car payment? To calculate the monthly payment on an auto loan use this car payment formula: C= rxP 1 - (1+r)^ c= Monthly Payment r = Monthly Interest Rate (in Decimal Form) = (Yearly Interest Rate/100) / 12 P = Principal Amount on the Loan N = Total # of Months for the loan ( Years on the loan x 12) C = .005416667 x 25,000 1-(1 + .005416667)-6 Example: Monthly payment for 5 year auto loan, with a principal of $25,000, and a yearly interest rate of 6.5%: r = (6.5 / 100) / 12 = .005416667 P = 25,000 N = (5 x 12) = 60 The Monthly Payment is $489.15