Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this needs to be in python format btw For this assignment you will write a program to calculate the monthly payments required to pay back

image text in transcribed

image text in transcribed

this needs to be in python format btw

For this assignment you will write a program to calculate the monthly payments required to pay back a student loan. You will need to prompt the user for the following values: Total loan amount in dollars (principal) Annual interest rate (as a percentage) Number of years to repay loan and display the output in a readable form. Output should include: Amount of monthly payment Total amount paid Total interest paid The formula for calculating monthly payments is given by: P(i/12) where p, P,i,n are the monthly payment amount, the principal loan amount, the annual interest rate as a fraction, and the number of monthly payments respectively. In your program, use appropriate names for your variables that are descriptive, and also be sure to comment your code. Because it will be some time before we learn how to format output, use the int function to get approximate values for your output and to make it look better (and also to make your answers correct for the auto-grader which is a bit picky!) Here's an example you should use to test your program, i.e., you should get the same output values for the given input values

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Current Trends In Database Technology Edbt 2004 Workshops Edbt 2004 Workshops Phd Datax Pim P2panddb And Clustweb Heraklion Crete Greece March 2004 Revised Selected Papers Lncs 3268

Authors: Wolfgang Lindner ,Marco Mesiti ,Can Turker ,Yannis Tzitzikas ,Athena Vakali

2005th Edition

3540233059, 978-3540233053

More Books

Students also viewed these Databases questions