Here is a formula for computing monthly payments for a loan (for example: a car loan):

Rate*(1 Rate)N Payment ((1Rate)N 1) *L

Where:

L: Loan Amount

Rate: Monthly Interest Rate as a fraction (ex: 0.01 for 1%)

N: Number of Payments

Payment: is the monthly payment

Write a Python module (loan.py) that assigns values to Loan Amount, Monthly Interest Rate and Number of payments, using the above formula, computes the monthly payment.

For example: if Loan amount is $10000, Monthly Interest Rate is 0.01 (or 12% annual interest rate), the number of payments is 36, Monthly payment should be $332.14.Verify that your program works correctly by using this data as input.

Attach loan.py when submitting this quick test.

here is what I have wrote

def main (): print ("This program takes Loan amount, monthly interest Rate and number of payments," " and tells the user the monthly payment") arp = eval (input ("Please enter monthly interest rate, Number of payments, Rate loan amount"))

main()