Question

My library>CptS 111 home> 2.9: zyLab PA #1: Student Loan R oks zyBooks cat @Help/FAQ θ Mohammed Al Shukaili 2.9 zyLabPA#1:Student Loan RepaymentCalculator For this assignment you wil write a program to calculate the monthly payments required to pay back a student loan You vill need to prompt the user for the following values 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 . e Total interest paid The formula for calculating monthly payments is given by P(i/12) 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 int0 function to get approximate values for your output and to make it look better (and also to make your answers correct for the auto-graderl) Here's an example Enter the amount you owe [no commas]: 30000 Enter the interest rate [8]: 6 Enter the number of years you want to spend to pay back your loan: 10 Your monthly payment is $333. The total amount you ended up paying is $39967. The total amount of interest you paid is $9967.

Answer 1

The output snapshot is followed by the python code:

"principal = input(""Enter the amount you owe [no commas]: ""): rate = input(""Enter the interest rate [%]: ""): years = input(""Enter the number of years you want to spend to pay back your loan: ""): principal = float(principal): rate = float(rate): years = float(years): print(str(principal)): print(str(rate)): print(str(years)): numberofmonthlypayment = 12.0 * years: monthlypayment = (principal * rate * 0.01/12.0)/(1.0 - ((1.0 + rate * 0.01/12.0) ** (-1.0 * numberofmonthlypayment))): print(""Your monthly payment is $"" + str(int(monthlypayment)) + "".""): print(""The total amount you ended up paying is $"" + str(int(monthlypayment * numberofmonthlypayment)) + "".""): print(""The total amount of interest you paid is $"" + str(int(monthlypayment * numberofmonthlypayment - principal)) + ""."");"

principal = input("Enter the amount you owe [no commas]: ");
rate = input("Enter the interest rate [%]: ");
years = input("Enter the number of years you want to spend to pay back your loan: ");

principal = float(principal);
rate = float(rate);
years = float(years);

print(str(principal));
print(str(rate));
print(str(years));

numberofmonthlypayment = 12.0 * years;
monthlypayment = (principal * rate * 0.01 / 12.0) / (1.0 - ((1.0 + rate * 0.01/12.0) ** (-1.0 * numberofmonthlypayment)));

print("Your monthly payment is $" + str(int(monthlypayment)) + ".");
print("The total amount you ended up paying is $" + str(int(monthlypayment * numberofmonthlypayment)) + ".");
print("The total amount of interest you paid is $" + str(int(monthlypayment * numberofmonthlypayment - principal)) + ".");