Simple Loan Calculator Write a Python program that accepts a base loan amount (or principal) and a number of months to be spent paying off the loan. The loan's interest is calculated as a flat five percent of the initial value, multiplied by the number of months spent paying off the loan. Your program should display output very similar to the following. (Warning: Ensure all values are rounded to two decimal places.) Enter the principal of your loan: 30000 Enter the number of months you'll pay for: 12 The monthly interest on your loan is 1,500.00 This makes your total loan's cost 48,000.00 This means you will pay 4,000.00 per month
Simple Loan Calculator Write a Python program that accepts a base loan amount (or principal) and a number of months to be spent paying off the loan. The loan's interest is calculated as a flat five percent of the initial value, multiplied by the number of months spent paying off the loan. Your program should display output very similar to the following. (Warning: Ensure all values are rounded to two decimal places.) Enter the principal of your loan: 30000 Enter the number of months you'll pay for: 12 The monthly interest on your loan is 1,500.00 This makes your total loan's cost 48,000.00 This means you will pay 4,000.00 per month
C++ for Engineers and Scientists
4th Edition
ISBN:9781133187844
Author:Bronson, Gary J.
Publisher:Bronson, Gary J.
Chapter5: Repetition Statements
Section: Chapter Questions
Problem 7PP
Related questions
Concept explainers
Max Function
Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.
Power Function
A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:
Question
I need help on this?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.Recommended textbooks for you
C++ for Engineers and Scientists
Computer Science
ISBN:
9781133187844
Author:
Bronson, Gary J.
Publisher:
Course Technology Ptr
C++ Programming: From Problem Analysis to Program…
Computer Science
ISBN:
9781337102087
Author:
D. S. Malik
Publisher:
Cengage Learning
Programming Logic & Design Comprehensive
Computer Science
ISBN:
9781337669405
Author:
FARRELL
Publisher:
Cengage
C++ for Engineers and Scientists
Computer Science
ISBN:
9781133187844
Author:
Bronson, Gary J.
Publisher:
Course Technology Ptr
C++ Programming: From Problem Analysis to Program…
Computer Science
ISBN:
9781337102087
Author:
D. S. Malik
Publisher:
Cengage Learning
Programming Logic & Design Comprehensive
Computer Science
ISBN:
9781337669405
Author:
FARRELL
Publisher:
Cengage