25 Jul HOW MANY YEARS IS THE LOAN FOR?
formula for the monthly payment which does not change throughout the r Show more (prgram shoulb be in python) formula for the monthly payment which does not change throughout the repaying of the loan is: The amount of principle that is left to be repaid after m months is: 1)Assume the loan is to be repaid in monthly payments. The amount borrowed is $5000.00. The annual interest rate is 6.5%. The period of the loan is 1 year. Write a program thatcomputes and prints the month payment and remaining principle for each payment. Input. This program takes no input. Output. Your programs output should look exactly like this: Payment schedule for a loan of $5000.00 at 6.5% interest repaid over 1 year: month payment remaining 1 431.48 4595.60 2 431.48 4189.01 3 431.48 3780.22 4 431.48 3369.21 5 431.48 2955.98 6 431.48 2540.51 7 431.48 2122.79 8 431.48 1702.81 9 431.48 1280.55 10 431.48 856.00 11 431.48 429.16 12 431.48 0.0 2)Now change the program you just wrote to ask the user for the loan amount the annual interest rate and the number of years in the period of the loan. It then must compute and print the month payment and remaining principle for each payment. Input. The sequence of prompts for your program must exactly match the following (the red text is what you type): What is the annual interest rate (enter it without the % sign)? 6.5 How much is being borrowed (no commas)? 5000 How many years is the loan for? 1 Output. The output of your program must look exactly like this: Payment schedule for a loan of $5000.00 at 6.5% interest repaid over 1 years: month payment remaining 1 431.48 4595.60 2 431.48 4189.01 3 431.48 3780.22 4 431.48 3369.21 5 431.48 2955.98 6 431.48 2540.51 7 431.48 2122.79 8 431.48 1702.81 9 431.48 1280.55 10 431.48 856.00 11 431.48 429.16 12 431.48 0.00 Show less
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