Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 Loan amount: $520,000.00 Interest rate: 5.375% Interest...


This should be written in Python. The outcome should look like the attachment which include the spacing. It should have a Main and functions.


Create a program that calculates the interest on a loan.<br>Console<br>Interest Calculator<br>Enter loan amount:<br>520000<br>Enter interest rate: 5.375<br>Loan amount:<br>$520,000.00<br>Interest rate:<br>5.375%<br>Interest amount:<br>$27,950.00<br>Continue? (y/n): y<br>Enter loan amount:<br>4944.5<br>Enter interest rate: 1.3<br>$4,944.50<br>1.300%<br>Loan amount:<br>Interest rate:<br>Interest amount:<br>$64.28<br>Continue? (y/n): n<br>Bye!<br>Specifications<br>• The formula for calculating the interest amount is:<br>loan_amount * (interest_rate / 100)<br>• Use the Decimal class to make sure that all calculations are accurate. It should round the interest<br>that's calculated to two decimal places, rounding up if the third decimal place is five or greater.<br>• The interest rate that's displayed can have up to 3 decimal places.<br>Assume that the user will enter valid decimal values for the loan amount and interest rate.<br>

Extracted text: Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 Loan amount: $520,000.00 Interest rate: 5.375% Interest amount: $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 $4,944.50 1.300% Loan amount: Interest rate: Interest amount: $64.28 Continue? (y/n): n Bye! Specifications • The formula for calculating the interest amount is: loan_amount * (interest_rate / 100) • Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. Assume that the user will enter valid decimal values for the loan amount and interest rate.

Jun 09, 2022
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