Question: Write Python code that asks the user for a loan amount, length of loan, and the annual percentage rate and then prints out the monthly
Write Python code that asks the user for a loan amount, length of loan, and the annual percentage rate and then prints out the monthly payment amount, the total interest paid on the loan, and the total amount paid.
You can use the following formula to calculate the amortized monthly payments:
rho
r
t
rP
where;
P is the principle or loan amount,
t is the length of the loan in years, and
r is the annual interest rate.
For example:
Enter amount of loan:
Enter length of loan, in years:
Enter the annual percentage rate:
Monthly payments:
Total Interest Paid:
Total Amount Paid:
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