11/24/2023 0 Comments Oops loan interest rateReplaced my equation with this one - it's a better / cleaner way to create the interest calculator - although both will get you the same result: A = math. When entering 13.58 for "How much money do you currently have in the bank?", 0.3 for "What is your interest rate?", and 5 for "Over how many years is the interest compounded?", I got the answer 1714808.43561 - so the calculator works! Reworked my equation to look like this: final_actual_rate = actual_rate + 1 Learned that power function in python is ** and that implied multiplication operators don't exist in python syntax. Why, then, aren't they callable? How can I fix this program to calculate interest correctly? Thank you! I'm assuming that the 'float' object refers to either actual_principal or actual_rate, or both, since those are the two values that I converted. By Texas law, the maximum amount you can borrow with any Home Equity Loan or a Home Equity Line of Credit is 80 of your homes appraised value. For Wall Street Journal (WSJ) Prime, call 86. I used actual_principal, actual_rate, and actual_time to convert the strings into (exact) integers.I used float instead of int because float will maintain an input with decimals, right?īut I got an error message on line 9 TypeError: 'float' object is not callable on line 9 Frost Home Equity Loan rates shown are for the 2nd lien position. #TODO: Calculate the total amount and print the resultĪ = (actual_principal(1 + actual_rate) ^ actual_time) Time = input("Over how many years is the interest compounded?") Rate = input("What is your interest rate?") Here, Principal outstanding refers to the principal outstanding at the time of closure. A five-year 10,000 personal loan would have an interest rate of 11.99 and a 5.00 origination fee with a 14.27 APR. This is what I tried: principal = input("How much money do you currently have in the bank?") Includes fixed/ semi fixed rate loans, and loans to non-individuals also. Note: A = P(1+r)^t where A = total amount, P = principal, r = rate, and t = time. Interest Calculator Let the user calculate the amount of money they will have in the bank after their interest has compounded for a certain number of years.
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