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19 changes: 9 additions & 10 deletions Solutions/Module4MortgageCalculatorChallengeSolution.py
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Original file line number Diff line number Diff line change
@@ -1,4 +1,3 @@

#Declare and initialize the variables
monthlyPayment = 0
loanAmount = 0
Expand All @@ -7,26 +6,26 @@
loanDurationInYears = 0

#Ask the user for the values needed to calculate the monthly payments
strLoanAmount = input("How much money will you borrow? ")
strInterestRate = input("What is the interest rate on the loan? ")
strLoanAmount = input("How much money will you borrow? ")
strInterestRate = input("What is the interest rate on the loan? (ex 6%=.06) ")
strLoanDurationInYears = input("How many years will it take you to pay off the loan? " )

#Convert the strings into floating numbers so we can use them in teh formula
#Convert the strings into floating numbers so we can use them in the formula
loanDurationInYears = float(strLoanDurationInYears)
loanAmount = float(strLoanAmount)
interestRate = float(strInterestRate)
P = float(strLoanAmount)
I = float(strInterestRate)/12

#Since payments are once per month, number of payments is number of years for the loan * 12
numberOfPayments = loanDurationInYears*12
N = loanDurationInYears*12


#Calculate the monthly payment based on the formula
monthlyPayment = loanAmount * interestRate * (1+ interestRate) * numberOfPayments \
/ ((1 + interestRate) * numberOfPayments -1)
monthlyPayment = P *( I * (1+ I)**N / ((1 + I)**N -1))

#provide the result to the user
print("Your monthly payment will be " + str(monthlyPayment))

#Extra credit
print("Your monthly payment will be $%.2f" % monthlyPayment)

## for this example (Principle = 100,000, Interest = 6%, years = 15, monthly payment = 843.86)