ng Python Create a GUI (Graphical User Interface) program shown below that lets the user enter the loan amount and loan period in the number of years from a text field, and should display the monthly and total payments for each interest rate starting from 5 percent to 8 percent, with increments of one-eighth, in a text area. Use the following formulas to calculate the monthly and total payments: monthlyPayment = loanAmount × monthlyInterestRate / (1 – 1 / (1 + monthlyInterestRate)(numberOfYears × 12)) totalPayment = monthlyPayment × numberOfYears × 12

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Create a GUI (Graphical User Interface) program shown below that lets the user enter the loan amount and loan period in the number of years from a text field, and should display the monthly and total payments for each
interest rate starting from 5 percent to 8 percent, with increments of one-eighth, in a text area. Use the following formulas to calculate the monthly and total payments:
monthlyPayment = loanAmount × monthlyInterestRate / (1 – 1 / (1 + monthlyInterestRate)(numberOfYears × 12))
totalPayment = monthlyPayment × numberOfYears × 12

Create a GUI (Graphical User Interface) program shown below that lets the user enter the loan amount and loan
period in the number of years from a text field, and should display the monthly and total payments for each
interest rate starting from 5 percent to 8 percent, with increments of one-eighth, in a text area. Use the following
formulas to calculate the monthly and total payments:
monthlyPayment = loanAmount x monthlylnterestRate / (1 – 1/(1 + monthlylnterestRate)(numberofvears x 12)
totalPayment = monthlyPayment x numberOfYears x 12
Compare Interest Rates
Loan Amount
5 Calculate
10000 Years
Monthly Payment | Total Payment
188.71
Interest Rate
5.00
11322.74
5.12
189.29
11357.13
5.25
5.38
189.86
11391.59
190.44
11426.11
5.50
191.01
11460.70
5.62
191.59
11495.35
5.75
192.17
11530.06
5.88
192.75
11564.84
6.00
193.33
11599.68
6.12
193.91
11634.59
6.25
194.49
11669.56
6.38
195.08
11704.59
6.50
195.66
11739.69
6.62
196.25
11774.85
6.75
196.83
11810.08
6.88
7.00
7.12
7.25
7.38
7.50
7.62
7.75
197.42
11845.37
198.01
11880.72
198.60
11916.14
199.19
11951.62
199.79
11987.16
200.38
12022.77
200.97
12058.44
201.57
12094.18
Transcribed Image Text:Create a GUI (Graphical User Interface) program shown below that lets the user enter the loan amount and loan period in the number of years from a text field, and should display the monthly and total payments for each interest rate starting from 5 percent to 8 percent, with increments of one-eighth, in a text area. Use the following formulas to calculate the monthly and total payments: monthlyPayment = loanAmount x monthlylnterestRate / (1 – 1/(1 + monthlylnterestRate)(numberofvears x 12) totalPayment = monthlyPayment x numberOfYears x 12 Compare Interest Rates Loan Amount 5 Calculate 10000 Years Monthly Payment | Total Payment 188.71 Interest Rate 5.00 11322.74 5.12 189.29 11357.13 5.25 5.38 189.86 11391.59 190.44 11426.11 5.50 191.01 11460.70 5.62 191.59 11495.35 5.75 192.17 11530.06 5.88 192.75 11564.84 6.00 193.33 11599.68 6.12 193.91 11634.59 6.25 194.49 11669.56 6.38 195.08 11704.59 6.50 195.66 11739.69 6.62 196.25 11774.85 6.75 196.83 11810.08 6.88 7.00 7.12 7.25 7.38 7.50 7.62 7.75 197.42 11845.37 198.01 11880.72 198.60 11916.14 199.19 11951.62 199.79 11987.16 200.38 12022.77 200.97 12058.44 201.57 12094.18
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