Language: Python

You are purchasing a new car worth $30,000.00 and you are financing for $25,000.00. You want to get the best rate along with best length of time to finance this loan. 1. Write a program that does the following: a. Loan Amount - $25K b. Interest Rate - 5% c. Calculate for time period of 2 yrs, 3 yrs, 4 yrs and 5 yrs the following (Loan Time Period should be taken from the keyboard as an input): 1. Monthly Payment (Should be a function of its own) (def calc_monthlypmt) ii. Total Amount Paid (Should be a function of its own)[def calc_total amount] ill. Total Interest Paid. (Should be a function of its own) (def calc_total_interest d. Should display the output in the following format: Years Monthly Pmt Total Pmt Interest Paid ($x.xx) ($x.xx) ($x.xx) $ 1096.78 $ 749.27 $575.73 $471.78 Use the formula below: r(PV) 1-(1+r) - P=