Question

reate a purchase-finance program that asks for a purchase price, requires a 10% down payment, and a 5% (of purchase price) payment per month. Print out a table that shows payment number, balance before payment, payment, interest and principal include in the payment and balance after payment. Use formatting so that all fields (Columns) align and are rounded to two decimal places. Python programming

Answer 1

Python code

purchaseprice = float(input("Enter purchase price: "))
downpayment = 0.1 * purchaseprice
paymentpermonth = 0.05 * purchaseprice
ispaymentcomplete = False
paymentnumber = 0
interestpermonth = 0.01
totalmonths = (100-10)/5
balancebeforepayment = purchaseprice + interestpermonth * totalmonths * paymentpermonth

print("P.no",end=" | ")
print("Prior Bal",end=" | ")
print("Payment", end=" | ")
print("Interest",end=" | ")
print("Principal",end=" | ")
print("Post Bal",end=" ")
print("")
while paymentnumber != totalmonths:

paymentnumber = paymentnumber + 1
print(str(paymentnumber),end =" | ")
print(str(round(balancebeforepayment,2)),end =" | ")
principalincluded = paymentpermonth
payment = 0
if paymentnumber == 1:

payment = downpayment

interestincluded = principalincluded * interestpermonth
payment = payment + principalincluded + interestincluded
print(str(round(payment,2)),end =" | ")
print(str(round(interestincluded,2)),end =" | ")
print(str(round(principalincluded,2)),end =" | ")
balanceafterpayment = balancebeforepayment - payment
print(str(round(balanceafterpayment,2)),end =" | ")
print("")
balancebeforepayment = balanceafterpayment

Sample output

Enter purchase price: 1500                                              

P.no | Prior Bal | Payment | Interest | Principal | Post Bal            

1   |   1513.5   |   225.75   |   0.75   |   75.0   |   1287.75   |     

2   |   1287.75   |   75.75   |   0.75   |   75.0   |   1212.0   |      

3   |   1212.0   |   75.75   |   0.75   |   75.0   |   1136.25   |      

4   |   1136.25   |   75.75   |   0.75   |   75.0   |   1060.5   |      

5   |   1060.5   |   75.75   |   0.75   |   75.0   |   984.75   |       

6   |   984.75   |   75.75   |   0.75   |   75.0   |   909.0   |        

7   |   909.0   |   75.75   |   0.75   |   75.0   |   833.25   |        

8   |   833.25   |   75.75   |   0.75   |   75.0   |   757.5   |        

9   |   757.5   |   75.75   |   0.75   |   75.0   |   681.75   |        

10   |   681.75   |   75.75   |   0.75   |   75.0   |   606.0   |       

11   |   606.0   |   75.75   |   0.75   |   75.0   |   530.25   |       

12   |   530.25   |   75.75   |   0.75   |   75.0   |   454.5   |       

13   |   454.5   |   75.75   |   0.75   |   75.0   |   378.75   |       

14   |   378.75   |   75.75   |   0.75   |   75.0   |   303.0   |       

15   |   303.0   |   75.75   |   0.75   |   75.0   |   227.25   |       

16   |   227.25   |   75.75   |   0.75   |   75.0   |   151.5   |       

17   |   151.5   |   75.75   |   0.75   |   75.0   |   75.75   |        

18   |   75.75   |   75.75   |   0.75   |   75.0   |   0.0   |