Question

IT IS A PYTHON PROGRAM

interest_due()

• Parameters

◦ the balance of the mortgage (the part of the principal that has not been paid back yet; should be a positive number) ◦ the annual interest rate (should be a float between 0 and 1) ◦ the number of payments per year (should be a positive integer; default value: 12) • Functionality ◦ Compute and return the amount of interest due in the next payment according to the formula i = br, where ▪ i is the amount of interest due in the next payment ▪ b is the balance of the mortgage ▪ r is the interest rate per payment (the annual interest rate divided by the number of payments per year)

Answer 1

CODE

def interest_due(principal, interest, num_payments):

rate = interest / num_payments

return principal * rate

print(interest_due(10000, 2.5, 12))