Question: Python Question. Write a function called calculatePayment() that takes three inputs: the total cost of the car, the interest rate, and the total months of

Python Question. Write a function called calculatePayment() that takes three inputs: the total cost of the car, the interest rate, and the total months of the car payments. The function will then calculate the monthly payment. I have included a picture of the formula.

Python Question. Write a function called calculatePayment() that takes three inputs: the

How do you calculate a car payment? To calculate the monthly payment on an auto loan use this car payment formula: C= rxP 1 - (1+r)^ c= Monthly Payment r = Monthly Interest Rate (in Decimal Form) = (Yearly Interest Rate/100) / 12 P = Principal Amount on the Loan N = Total # of Months for the loan ( Years on the loan x 12) C = .005416667 x 25,000 1-(1 + .005416667)-6 Example: Monthly payment for 5 year auto loan, with a principal of $25,000, and a yearly interest rate of 6.5%: r = (6.5 / 100) / 12 = .005416667 P = 25,000 N = (5 x 12) = 60 The Monthly Payment is $489.15

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 Databases Questions!

Code the following using python idle and be sure not to use the constructs in the prohibited list unless specified in the question. Note: 0 is neither positive or negative, so if a function requires...

Code the following using python idle and be sure not to use the constructs in the prohibited list at the bottom unless specified in the question. Note: 0 is neither positive or negative, so if a...

Use a separate .py script file for each exercise and submit in a single compressed (zip) file. 1: What will the following Python program print out? def fred(): print("Zap") def jane(): print("ABC")...

A discrete sequence {xn} can be converted into a continuous representation x(t) = ts X n= (t n ts) xn, where ts is the sampling period. (a) State two characteristic properties of Dirac's function. [2...

Use a separate .py script file for each exercise and submit in a single compressed (zip) file. 2: Rewrite your pay computation with time-and-a-half for overtime and create a function called...

Python Write a function sort cars() that takes a list of Car objects and sorts the list of cars by their total repair costs, placing the cars into descending order by total repair cost. In other...

let E18 v f A B D E F G H 1 J K L M Sales Tax Rate 6.754 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Transaction ID Amount Sales Tax Total 578 42.00 579 167.00 580 V209.00 an 581 142.00 Venue 582...

The following information pertains to the Ruby Corp: Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory Cost of...

P(x

Which esports organisation signed a deal with a cryptocurrency company? Question 4 2 options: 1 0 0 T Cloud 9 G 2 Esports TSM

Compared with half a century ago, adoption has become _ _ _ _ _ _ _ _ _ common, but it is more open and acceptabl e , so we probably discuss it _ _ _ _ _ _ _ . fill in the blanks more or much less or...

Suppose government spending increases. Would the effect on aggregate demand be larger if the Federal Reserve took no action in response or if the Fed were committed to maintaining a fixed interest...

Suppose that people suddenly wanted to hold more money balances. a. What would be the effect of this change on the economy if the Federal Reserve followed a rule of increasing the money supply by 3...

Suppose the federal government cuts taxes and increases spending, raising the budget deficit to 12 percent of GDP. If nominal GDP is rising 5 percent per year, are such budget deficits sustainable...