Question: # Python code to calculate fully amortizing loan monthly payment P = 1 0 0 0 0 0 annual _ rate = 0 . 0

# Python code to calculate fully amortizing loan monthly payment
P =100000
annual_rate =0.06
monthly_rate = annual_rate /12
n =20*12
M =(P * monthly_rate *(1+ monthly_rate)**n)/((1+ monthly_rate)**n -1)
M

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Programming Questions!

Q:

A household purchased a house 5 years ago for $450,000. The purchase was financed with a 30 year 4% Fixed Rate loan at an LTV of 90%. The household has the option of refinancing the outstanding...

Q:

1-Suppose you will deposit the following amounts into your savings account, earning 7% annually compounded interest. How much you will have at the end of the 4th year? Yr1 = $1,000 Yr2 = $2,000 Yr3 =...

Q:

Two brothers each open IRAs in 2009 and plan to invest S3,000 per year for the next 30 years John makes his first deposit on January 1, 2009, and will make all future deposits on the first day of the...

Q:

1-Two brothers each open IRAs in 2009 and plan to invest $3,000 per year for the next 30 years. John makes his first deposit on January 1, 2009, and will make all future deposits on the first day of...

Q:

please show the formulas and how to calculate every questions 6) If Cindy deposits $12,000 into a bank account that pays 6% interest compounded semiannually, what will the account balance be in seven...

Q:

Four page, maximum, report on your answers to questions: As a loan committee member at the Park Bank, would you approve the request?Why or why not? Evaluate the decision using each of the four C's of...

Q:

MILWAUKEE MACHINING, INC. CASE This company is a Subchapter S Corporation. The company with the same ownership, Machining Investments, LLC, owns the real estate occupied by Milwaukee Machining, Inc....

Q:

Include the following: -IPO (Input, Process, Output) -Python code -Pseudocode Loan payment calculations, or monthly payment formulas, provide the answers you need when deciding whether or not you can...

Q:

VISUAL STUDIO C# WEB APPLICATION Individual Assignment #2 Build the Monthly Loan Calculator App Problem Statement: Build a Monthly Loan Calculator Web App that computes the monthly payments and the...

Q:

pls use gui and show step by step bcs i am confuse with jbutton (calculate) part. thank you You are required to develop a Java application with NetBeans JFrame GUI facilities. This project function...

Q:

The graph of y-fix) and a table of values for y-2f00 are shown below y-2 fec) -2 For this table, the value of a is b is (eter aruver in first column) (eter anwer in acond column) (eer awer in shrd...

Q:

One approach to solving integer programming problems is to ignore the integrality conditions and solve the problem with continuous decision variables. This is referred to as: quickest solution...

Q:

The market risk premium varies over time as both the risk - free rate of return and the market rate of return vary. plus the risk - free rate of return equals the cost of capital for any firm with a...

Q:

1. Demand function is p = 500 - q. What is marginal revenue at q = 250? (Hint: First multiply p by q to obtain total revenue.) 2. Total revenue function is R(q)=200q-q^2. At what q is marginal...