Loan calculator

 

def calculate_loan_payment(loan_amount, interest_rate, loan_term):

    monthly_interest_rate = interest_rate / 12 / 100

    number_of_payments = loan_term * 12

    monthly_payment = loan_amount * (monthly_interest_rate * (1 + monthly_interest_rate) ** number_of_payments) / ((1 + monthly_interest_rate) ** number_of_payments - 1)

    total_interest_paid = monthly_payment * number_of_payments - loan_amount

    total_amount_paid = loan_amount + total_interest_paid

    return round(monthly_payment, 2), round(total_interest_paid, 2), round(total_amount_paid, 2)

loan_amount = float(input("Enter the loan amount: "))

interest_rate = float(input("Enter the interest rate (in %): "))

loan_term = float(input("Enter the loan term (in years): "))

monthly_payment, total_interest_paid, total_amount_paid = calculate_loan_payment(loan_amount, interest_rate, loan_term)

print(f"Monthly Payment: ${monthly_payment}")

print(f"Total Interest Paid: ${total_interest_paid}")

print(f"Total Amount Paid: ${total_amount_paid}")