Using Python:The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment.Write a program that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Each row of the table should contain the following items:The month number (beginning with 1)The current total balance owedThe interest owed for that monthThe amount of principal owed for that monthThe payment for that monthThe balance remaining after paymentThe amount of interest for a month is equal to balance × rate / 12.The amount of principal for a month is equal to the monthly payment minus the interest owed.An example of the program input and output is shown below:

Code price=float(input("Enter the purchase price: ")) monthlyPayment=price*0.05 print("Month…

Answered: Using Python: The credit plan at…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Using Python:

The credit plan at TidBit Computer Store specifies a 10% down payment and an annual interest rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment.

Write a program that takes the purchase price as input. The program should display a table, with appropriate headers, of a payment schedule for the lifetime of the loan. Each row of the table should contain the following items: