Write a program that lets the user enter the loan amount, number of years, and interest rate, and defines a function to calculate monthly EMI, total payment and display the amortization schedule for the loan in python

## Code

def emi(loan_amount, no_of_years, interest_rate):interest_rate = interest_rate / (12 * 100)no_of_months = no_of_years * 12# return monthly EMI, total payment and display the amortization schedule for the loanemi = (loan_amount * interest_rate * (1 + interest_rate) ** no_of_months) / ((1 + interest_rate) ** no_of_months - 1)total_payment = emi * no_of_months# display the amortizationamortization_schedule = []while no_of_months > 0:interest = loan_amount * interest_rateprincipal = emi - interestloan_amount = loan_amount - principalprint(f"Interest: {interest:.2f}, Principal: {principal:.2f}, Loan Amount: {loan_amount:.2f}")no_of_months -= 1return emi, total_paymentif __name__ == "__main__":loan_amount = float(input("Enter the loan amount: "))no_of_years = float(input("Enter the number of years: "))interest_rate = float(input("Enter the interest rate: "))emi, total_payment = emi(loan_amount, no_of_years, interest_rate)print("Monthly EMI: ", emi)print("Total payment: ", total_payment)

## Output

run code and get the output ðŸ˜‰

## 0 Comments

## Post a Comment