Write a program that calculates the monthly payment amount and total interest that will be paid...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Write a program that calculates the monthly payment amount and total interest that will be paid on a car loan. Prompt the user to enter the principle amount of the loan, the interest rate of the loan, and the loan duration in months. Then, calculate and display the monthly payment amount and total interest that will be paid on the loan using the given formulas. Make sure to check that the input makes sense, and display a message to the user if it doesn't. Formulas: monthly payment = (amount of loan * monthly interest rate) / 1 (1 + monthly interest rate)^-duration monthly interest rate= annual rate / 1200 total interest = duration monthly payment - loan amount Write a program that calculates the monthly payment amount and total interest that will be paid on a car loan. Prompt the user to enter the principle amount of the loan, the interest rate of the loan, and the loan duration in months. Then, calculate and display the monthly payment amount and total interest that will be paid on the loan using the given formulas. Make sure to check that the input makes sense, and display a message to the user if it doesn't. Formulas: monthly payment = (amount of loan * monthly interest rate) / 1 (1 + monthly interest rate)^-duration monthly interest rate= annual rate / 1200 total interest = duration monthly payment - loan amount
Expert Answer:
Answer rating: 100% (QA)
Heres a simple Python program that accomplishes what youve described pyt... View the full answer
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
Posted Date:
Students also viewed these programming questions
-
Bob's BBQ reported sales of $720,000 and net income of $26,500. Bob's also reported ending total assets of $495,000 and beginning total assets of $388,000. Required: Calculate the return on assets,...
-
Make a simple SWOT Analysis of the Australian app 'Eat Club'
-
Due to the rapid growth of your technology company, the executive team has asked HR to develop an internal training program. The purpose of the program is to help employees recently promoted to...
-
Given that log 10 (x 2 y) = 4 and log 10 (x 4 /y 3 ) = 18, find the value of log 10 x and of log 10 y.
-
On October 9, 1992, a 27-pound meteorite struck a car in Peekskill, NY, creating a dent about 22 cm deep. If the initial speed of the meteorite was 550 m/s, what was the average force exerted on the...
-
Four identical capacitors are connected with a resistor in two different ways. When they are connected as in part a of the drawing, the time constant to charge up this circuit is 0.72 s. What is the...
-
Journalize the following transactions for Antique Furniture, Inc., that occurred during the month of January. Jan 3 Purchased $5,700 of merchandise on account, terms 1/10, n/30, FOB shipping point....
-
On January 1, 2015, Corvallis Carnivals borrows $30,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $566.14 are due at the end of each month, with the...
-
Current position analysis The bond indenture for the 10-year, 9% debenture bonds issued January 2, 2015, required working capital of $100,000, a current ratio of 1.5, and a quick ratio of 1.0 at the...
-
The Chartered Financial Analyst (CFA) designation is the de facto professional certification for the financial industry. Employers encourage their prospective employees to complete the CFA exam....
-
Immen Corporation manufactures two products: Product B820 and Product P99Y. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based...
-
According to Bankrate, the best rate for a savings account in December 2022 was through Bask Bank paying 4.03% APY. If the stated or nominal interest rate is compounded monthly, find the stated...
-
Could you elucidate the role of hormone signaling in mediating social behaviors, including aggression, mating, and parental care, and how genetic and environmental factors interact to shape...
-
Find an antiderivative F(x) with F' (x) = f (x) = 8+21x+18x5 and F(1) = 0. Remember to include a "+ C" if appropriate. F(x)= | Show your work and explain, in your own words, how you arrived at your...
-
Suppose April has the following quasilinear utility function from soda x and other stuff M: U(x, M) = 10 x + M. The price per unit of soda is $p, and the price of other stuff is $2 per unit. April...
-
Houghton Chemicals, which started operations one year ago, has two divisions: Alloys and Petro. Both divisions invest heavily in R&D, which is assumed to generate benefits for five years. R&D...
-
You just received a job offer for $60,000/year. For simplicity, let's assume you will get paid $5,000 on the 1st of each month, starting July 1st. The bank informed you that if you enroll in an...
-
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
-
A 17.5% discount on a flat-screen TV amounts to $560. What is the list price?
-
Brian turned 60 years old today and has retired from Bell Canada. The current economic value of his pension is his most significant asset. He will be receiving pension payments of $60 000 every year....
-
In how many days will $580 grow to $600 at 4.5% p.a. compounded monthly?
-
Calculate the residual enthalpy and entropy for propane at \(312 \mathrm{~K}\) and \(2 \mathrm{MPa}\) using the van der Waals equation of state, given that \(a=0.877 \mathrm{~Pa}\left(\mathrm{~m}^{3}...
-
Using the generalized virial coefficient of correlation, estimate the residual enthalpy and entropy for ethylene at \(339.7 \mathrm{~K}\) and \(1 \mathrm{bar}\), given that \(T_{\mathrm{C}}=283...
-
Derive an expression to calculate the change in enthalpy and entropy of a real gas obeying the following equation of state along an isothermal path between the initial and final pressures \(P_{1}\)...
Study smarter with the SolutionInn App