This should be written in Python. The outcome should look like the attachment which include the spacing. It should have a Main and functions. Create a program that calculates the interest on a loan.ConsoleInterest CalculatorEnter loan amount:520000Enter interest rate: 5.375Loan amount:$520,000.00Interest rate:5.375%Interest amount:$27,950.00Continue? (y/n): yEnter loan amount:4944.5Enter interest rate: 1.3$4,944.501.300%Loan amount:Interest rate:Interest amount:$64.28Continue? (y/n): nBye!Specifications• The formula for calculating the interest amount is:loan_amount * (interest_rate / 100)• Use the Decimal class to make sure that all calculations are accurate. It should round the interestthat's calculated to two decimal places, rounding up if the third decimal place is five or greater.• The interest rate that's displayed can have up to 3 decimal places.Assume that the user will enter valid decimal values for the loan amount and interest rate.

from decimal import Decimal def calculate(): loan_amount = float(input("Enter loan amount: "))…

Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: 5.375 520000 Loan amount: $520,000.00 Interest rate: Interest amount: 5.375% $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 $4,944.50 1.300% $64.28 Loan amount: Interest rate: Interest amount: Continue? (y/n): n Вye! Specifications The formula for calculating the interest amount is: loan_amount * (interest_rate / 100) Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. • Assume that the user will enter valid decimal values for the loan amount and interest rate.

Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: 5.375 520000 Loan amount: $520,000.00 Interest rate: Interest amount: 5.375% $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 $4,944.50 1.300% $64.28 Loan amount: Interest rate: Interest amount: Continue? (y/n): n Вye! Specifications The formula for calculating the interest amount is: loan_amount * (interest_rate / 100) Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. • Assume that the user will enter valid decimal values for the loan amount and interest rate.

EBK JAVA PROGRAMMING

9th Edition

ISBN:9781337671385

Author:FARRELL

Publisher:FARRELL

Chapter6: Looping

Section: Chapter Questions

Problem 9PE

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Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y Loan amount: Interest rate: Interest amount: 520000 5.375 Continue? (y/n): n $520,000.00 5.375% $27,950.00 Enter loan amount: Enter interest rate: 1.3 4944.5 $4,944.50 1.300% $64.28 Bye! Specifications • The formula for calculating the interest amount is: loan_amount (interest rate / 100) Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. Assume that the user will enter valid decimal values for the loan amount and interest rate.
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