Program that allows the user to access two different financial calculators: an investment calculator and a home loan repayment calculator for a small financial company
You will need the following software to run the financial calculator:
To get started with the financial calculators, follow these steps:
- Clone the repository:
git clone https://github.com/resole79/finance_calculator.git- Run the finance_calculator.py file:
python3 finance_calculator.pyHow program present
User selects ‘investment’
Ask the user to input:
- The amount of money that they are depositing.
- The interest rate (as a percentage).
- The number of years they plan on investing.
- Then ask the user to input if they want “simple” or “compound” interest
User selects “simple”
User selects “compound”
The total amount when **simple interest** is applied is calculated as follows: *𝐴 = 𝑃(1 + 𝑟 × 𝑡)*
The total amount when **compound interest** is applied is calculated asfollows: *𝐴 = 𝑃(1 + 𝑟)^𝑡*
In the formula above:
- ‘r’ is the interest entered above divided by 100, e.g. if 8% is entered, then r is 0.08.
- ‘P’ is the amount that the user deposits.
- ‘t’ is the number of years that the money is being invested.
- ‘A’ is the total amount once the interest has been applied.
User selects ‘bond’
Ask the user to input:
- The present value of the house.
- The interest rate.
- The number of months they plan to take to repay the bond.
User selects “bond”
The amount that a person will have to be repaid on a home loan each
month is calculated as follows: *𝑟𝑒𝑝𝑎𝑦𝑚𝑒𝑛𝑡 = (i * P)/(1 - (1 + i)^(-n))*
In the formula above:
- ‘P’ is the present value of the house.
- ‘i’ is the monthly interest rate, calculated by dividing the annual interest rate by 12.
- ‘n’ is the number of months over which the bond will be repaid.
Author : Emilio Reforgiato (resole79)
