Question: The total payment is 10,722.91 not 10,383.21. Programming Activity Amortization Schedule Create a flowchart and Python app to create a loan amortization schedule. The monthly

The total payment is 10,722.91 not 10,383.21. Programming Activity Amortization Schedule

The total payment is 10,722.91 not 10,383.21.

Programming Activity Amortization Schedule Create a flowchart and Python app to create a loan amortization schedule. The monthly payment for a eiven loan includes the interest and the principal. Compute the monthly interest by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is the monthly payment minus the monthly interest. Allow the user to enter the loan amount, the number of years and the interest rate. Display the amortization schedule. The formula for the monthly payment is (1 + rate)years 12 Sample Run: Loan Amount: 10000 Number of Years: 1 Annual Interest Rate: 7 Monthly Payment: 865.26 Total Payment: 10383.21 Payment # Interest 58.33 53.62 Principal 806.93 811.64 Balance 9193.07 8381.43 10.00 5.01 855.26 860.25 860.27 0.00 12 Programming Activity Amortization Schedule Create a flowchart and Python app to create a loan amortization schedule. The monthly payment for a eiven loan includes the interest and the principal. Compute the monthly interest by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is the monthly payment minus the monthly interest. Allow the user to enter the loan amount, the number of years and the interest rate. Display the amortization schedule. The formula for the monthly payment is (1 + rate)years 12 Sample Run: Loan Amount: 10000 Number of Years: 1 Annual Interest Rate: 7 Monthly Payment: 865.26 Total Payment: 10383.21 Payment # Interest 58.33 53.62 Principal 806.93 811.64 Balance 9193.07 8381.43 10.00 5.01 855.26 860.25 860.27 0.00 12

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