Question: Write a python program that simulates a bank mortgage calculator. The program will ask the user to input the following amounts: The property cost, the

 Write a python program that simulates a bank mortgage calculator. The

Write a python program that simulates a bank mortgage calculator. The program will ask the user to input the following amounts: The property cost, the available down payment, the interest rate applied to the whole loan period (for simplicity) and the number of years for the loan. The program will calculate the amount of monthly payments. For example if the property cost is 100000, the down payment is 40000. The interest rate is 20% which is 0.2. The loan is for 20 years. The monthly payment would be [(100000-40000) + (100000-40000)XO.2] / (20 X 12) = 300$ per rmonth

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!