Question: Assignment 1 B: Loan Payment Calculator You're applying for a car loan and want to calculate your monthly payment. The monthly payment can be calculated
Assignment B: Loan Payment Calculator You're applying for a car loan and want to calculate your monthly payment. The monthly payment can be calculated using the formula: Where: P is the loan amount principal r is the monthly interest rate annual interest rate divided by and converted to a decimal n is the number of payments loan term in years multiplied by Write a Python program that prompts the user for the loan amount, annual interest rate, and loan term in years. The program should calculate and display the monthly payment. Prompt the user to enter the loan amount principal as a floatingpoint number. Prompt the user to enter the annual interest rate as a floatingpoint number. Prompt the user to enter the loan term in years as an integer. Calculate the monthly interest rate by dividing the annual interest rate by and converting it to a decimal eg if the annual rate is convert it to and then to for monthly rate Calculate the number of payments by multiplying the loan term in years by Use the formula to calculate the monthly payment. Display the monthly payment, rounded to two decimal places. Output: Enter the loan amount: Enter the annual interest rate in : Enter the loan term in years: Your monthly payment is: $
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