Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): n Bye! 520000 5.375 $520,000.00 5.375% $27,950.00 4944.5 1.3 $4,944.50 1.300% $64.28
Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): n Bye! 520000 5.375 $520,000.00 5.375% $27,950.00 4944.5 1.3 $4,944.50 1.300% $64.28
Chapter5: Making Decisions
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Question
Python. Use the Decimal class instructions in solution.
![Project 9-1: Interest Calculator
Create a program that calculates the interest on a loan.
Console
Interest Calculator
Enter loan amount:
Enter interest rate:
Loan amount:
Interest rate:
Interest amount:
Continue? (y/n): y
Loan amount:
Interest rate:
Interest amount:
520000
5.375
Continue? (y/n): n
$520,000.00
5.375%
$27,950.00
Enter loan amount:
Enter interest rate: 1.3
4944.5
$4,944.50
1.300%
$64.28
Bye!
Specifications
• The formula for calculating the interest amount is:
loan_amount
(interest rate / 100)
Use the Decimal class to make sure that all calculations are accurate. It should round the interest
that's calculated to two decimal places, rounding up if the third decimal place is five or greater.
• The interest rate that's displayed can have up to 3 decimal places.
Assume that the user will enter valid decimal values for the loan amount and interest rate.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1df11701-b818-4e01-b30d-f9e565040856%2F7049d41d-fac6-426c-bdc6-27e1845d67b2%2Fc4o0z8q_processed.png&w=3840&q=75)
Transcribed Image Text:Project 9-1: Interest Calculator
Create a program that calculates the interest on a loan.
Console
Interest Calculator
Enter loan amount:
Enter interest rate:
Loan amount:
Interest rate:
Interest amount:
Continue? (y/n): y
Loan amount:
Interest rate:
Interest amount:
520000
5.375
Continue? (y/n): n
$520,000.00
5.375%
$27,950.00
Enter loan amount:
Enter interest rate: 1.3
4944.5
$4,944.50
1.300%
$64.28
Bye!
Specifications
• The formula for calculating the interest amount is:
loan_amount
(interest rate / 100)
Use the Decimal class to make sure that all calculations are accurate. It should round the interest
that's calculated to two decimal places, rounding up if the third decimal place is five or greater.
• The interest rate that's displayed can have up to 3 decimal places.
Assume that the user will enter valid decimal values for the loan amount and interest rate.
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