Question: Need the program written in Python. Dave has decided to take out a 30-year fixed rate mortgage of Sock, with an interest rate of 5%.
Dave has decided to take out a 30-year fixed rate mortgage of Sock, with an interest rate of 5%. His monthly payment is $2684.11 Here is a program that calculates the total amount that Dave will have to pay over the life of the mortgage: t mortgagerapy principal = 500000.0 rate - 0:05 payment = 2684.11 total_paid = 0.0 while principal > 0: principal = principal. (1+rate/12) - payment total_paid = total_paid + payment print('Total pald', total_paid) Enter this program and run it. You should get an answer of 965,279.6. Exercise 1.8: Extra payments Suppose Dave pays an extra S1000/month for the first 12 months of the mortgage? Modify the program to incorporate this extra payment and have it print the total amount paid along with the number of months required. When you run the new program, it should report a total payment of $29,965.62 over 342 months Exercise 1.9: Making an Extra Payment Calculator Modify the program so that extra payment information can be more generally handled. Make it so that the user can set these variables: extra_payment_start_month - 60 extra_payment_end_month = 108 extra_payment - 1000 Make the program look at these variables and calculate the total paid appropriately How much will Dave pay if he pays an extra $1000/month for 4 years starting in years of the mortgage
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