Thread: APR Interest Calculator help View Single Post
 02-06-2012, 04:11 AM PM User | #1 mikefallen New to the CF scene   Join Date: Feb 2012 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts APR Interest Calculator help I'm taking an introductory course to python and I'm having really frustrating time as this is very simple and i have done programming much more complex and just getting really frustrated on being hung up on this. So my assignment is to create a calculator that does APR interest using the formula Where A is the monthly payment, P is the total amount borrowed (the principal), n is the number of months for repayment and i is the monthly interest rate. You can calculate the monthly interest rate by dividing the annual interest rate ("APR") by 12. For example, to borrow \$30,000 (P) for a 10 year term (n = 120) with an APR interest rate of 6% (i = 0.06 / 12 = 0.005), A calculates to be \$333.06 - the monthly payment. The total interest paid over 10 years (always depressing!) = 120 * \$333.06 - \$30,000 = \$9,967.38. Code: ```def main(): print("****************************************") print("Mortgage Calculator v1.0") print("****************************************") print("") principal = float(input("Principal Amount ")) years = int(input("Input number of years ")) interest = float(input("Input interest percentage ")) interest = (interest/100)/12 months = years*12 monthly_payments = principal*interest/1-(1+interest)**-months print(apr) print("After", Years, "years at", format(interest, '.0%'), " interest ", "total is", format(Total, '.2f')) print("Monthly payments will be", monthly_payments) print("Total interest will amount to", format(total_interest, '.2f')) main()```