This was my first project in code, I was very happy with how it came out, I think I could have added a few extra functions and details to it but I wanted to get it up and running.
# Welcome message and input prompts
loan_amount = float(input("Welcome to Loan Calculator 3000! This program will quickly calculate the cost of your loan for you. Please input the dollar amount of your loan and hit enter: "))
annual_interest_rate = float(input("OK, so that's $" + str(loan_amount) + ", now please enter the interest rate for your loan. For example, if the interest rate is 8 percent, enter 8: "))
loan_years = int(input(" Got it, " + str (annual_interest_rate) + " percent interest. And how many years is the loan term?: "))
payment_count = loan_years * 12 # Total number of payments
interest_rate = annual_interest_rate / 1200 # Convert annual interest rate percentage to monthly decimal rate
# Calculate the monthly payment
monthly_payment = loan_amount * (interest_rate * (1 + interest_rate) ** payment_count) / ((1 + interest_rate) ** payment_count - 1)
twice_monthly= monthly_payment/2
bi_weekly= (monthly_payment *12)/26
# Print the result and offer further information
print("Great, here is the breakdown: If you're paying monthly, it's going to be a payment of $" + str(round(monthly_payment, 4)) + " a month for " + str(loan_years) + " years. If you're paying twice monthly, that's going to be a payment of $" + str(round(twice_monthly, 4)) + " twice a month for " + str(loan_years) + " years. And if you choose to pay bi-weekly, then that's going to be a payment of $" + str(round(bi_weekly, 2)) + " every two weeks for " + str(loan_years) + " years.")
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