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Write a program that takes the terms of a loan as inputs ( principal , interest rate as a % , number of payments per
Write a program that takes the terms of a loan as inputsprincipal interest rate as a number of payments per year, and the total number of years compute the interest paid over the life of the loan, and produces the output shown below. To get the interest, you should subtract the principal from the amount accrued over the life of the loan.
The examples shown below are for:
Borrowing $ for a condo financed over years with payments per year at
Borrowing $ for a car financed over years with payments per year at
The total amount paid for a loan accrued amount is given by the formula below where A is the amount accrued over the life of the loan including principal, P is the principal, r is the rate as a decimal, n is the number of payments made per year and t is the life of the loan in years. Use the round function to have at most decimal place in the answer.
Input:
a python C:Users
edaDataProgrammingMassignpy
b python C:Users
edaDataProgrammingMassignpy
Output:
a Interest Paid: $
b Interest Paid: $
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