![]() Print("The total charge on this loan will be £%.2f !" % totalCharge)Įverything works, but the value it throws out at the end is completely wrong. Print("Your monthly repayment will be £%.2f " % monthlyRepaymentCost) Print("Your monthly repayment will be £" str(monthlyRepaymentCost)) Print("You want to borrow £" str(loanAmount) " over " str(repaymentLength) " years, with an interest rate of " str(interestRate) "%!") TotalCharge = (monthlyRepaymentCost * numberOfPayments) - loanAmount #working out the total cost of the repayment over the full term of the loan # repaymentCost = loanAmount * interestRate * (1 interestRate) * numberOfPayments / ((1 interestRate) * numberOfPayments -1) #THIS IS FROM ANOTHER BIT OF CODE THAT IS SUPPOSE TO BE RIGHT BUT ISNT. MonthlyRepaymentCost = loanAmount * interestCalculation * (1 interestCalculation) * numberOfPayments / ((1 interestCalculation) * numberOfPayments - 1) ![]() # * N = Number of Payments (repaymentLength) # * I = Interest Rate (for an interest rate of 5%, i = 0.05 (interestCalculation) # * M = Monthly Payment (what were trying to find out) #working out the number of payments over the course of the loan period. #working out the interest rate to a decimal number #converting the string input variables to float RepaymentLength = input("How many years to repay your loan? \n") InterestRate = input("What is the interest rate on your loan? \n") LoanAmount = input("How much do you want to borrow? \n") # This program calculates monthly repayments on an interest rate loan/mortgage. Then it calculates the monthly payments to the user. The basic concept of the excersise is to make a mortgage calculator that asks the user to input 3 pieces of information, Loan Amount, Interest Rate, and Loan Term (years) To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs.I am currently learning python through a video tutorial on youtube, and have come up against a formula I cannot seem to grasp, as nothing looks right to me. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful. The final APR may differ from the APR in the above results due to additional fees that may be applicable. Please consult with qualified professionals to discuss your situation. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. ![]() This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. Bank of America and its affiliates are not tax or legal advisers. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. You should enter figures that are appropriate to your individual situation. The figures entered on the input page of this calculator are for hypothetical purposes only. ![]()
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