Question: This assignment combines numpy, pandas, and matplotlib in three questions. Ultimately, you will be creating a data visualization in Python. Write a program which prompts

This assignment combines numpy, pandas, and matplotlib in three questions. Ultimately, you will be creating a data visualization in Python.

This assignment combines numpy, pandas, and matplotlib in three questions. Ultimately, you

Write a program which prompts the user to enter a loan amount, annual interest rate, and number of years for a car loan. The equation: PV i(1+i)" PMT= (1+i)"-1 Where: PMT is the monthly payment PV is the loan amount i is the interest rate per month in decimal form (interest rate percentage divided by 12) n is the number of months (term of the loan in months) . Then plot the monthly interest payment vs month as well as the principal balance vs month. Make sure you use subplots! Note: when you get a loan, you are charged an interest rate; when you make a payment, part of that money is to pay back the loan money itself, and part of it is money to pay the interest. The "interest payment" is calculated by multiplying the remaining balance each month by the interest rate - so the further into the future you are, the smaller the interest payment will be. Write a program which prompts the user to enter a loan amount, annual interest rate, and number of years for a car loan. The equation: PV i(1+i)" PMT= (1+i)"-1 Where: PMT is the monthly payment PV is the loan amount i is the interest rate per month in decimal form (interest rate percentage divided by 12) n is the number of months (term of the loan in months) . Then plot the monthly interest payment vs month as well as the principal balance vs month. Make sure you use subplots! Note: when you get a loan, you are charged an interest rate; when you make a payment, part of that money is to pay back the loan money itself, and part of it is money to pay the interest. The "interest payment" is calculated by multiplying the remaining balance each month by the interest rate - so the further into the future you are, the smaller the interest payment will be

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 Finance Questions!