Loan payment plan. Python.

Objectives:

Practice while loop and formatted output.

The Computer Depot has a financing plan for computer purchases. There is a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price minus the down payment. For example, if the purchase price is $1000, then monthly payment is $45 for every month. Write a program to display a table of payment schedule for the lifetime of the loan

The program prompts users to enter the purchase price. The output of the program is a payment schedule table, with appropriate headers. Each row of the table should contain the following items:

The month number (beginning with 1)

The current balance (before payment for that month)

The interest owed for that month

The payment for that month

The balance remaining after payment

The balance (before payment) in the first month is the purchase price minus down payment. The amount of interest for a month is equal to balance * rate / 12. For example, if the purchase price is $1000, then for the first month,

The current balance (before payment for that month) is $900

The interest owed for that month is $9

The payment for that month is $45

The balance remaining after payment is $864

User interface specifications:

Input o The program prompts users to enter the purchase price.

Output

o The payment schedule table shall have appropriate headers. Each column of the table must be aligned. All money amounts are rounded to two decimal places. For example,

37.777779 should be rounded to 37.78.

Code specifications:

The first comment line contains the name of the script file you submitted for grade.

The header comment lines at the top of the file contain a brief description of the program. The description should be one or 2 lines long describing the purpose of the program.

Partition the task into smaller subtasks and implement each subtask with function(s). Each function must have comment lines describing its functionality, inputs, and outputs, as applicable.

Your program must have a main function to aggregate the decomposed subtasks as shown in the loan example in class. You also have to include comment lines in your main function to describe the logic or flow of your solution to the whole problem.

Finally, dont forget to use the following idiom to call your main function within your program.

if __name__ == "__main__":

main()

Use descriptive variable names and function names.