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Created 3 years ago
import math
def loan_emi(amount, duration, rate, down_payment=0):
loan_amount = amount - down_payment
emi = loan_amount * rate * ((1+rate)**duration) / (((1+rate)**duration)-1)
emi = math.ceil(emi)
return emi
emi1 = loan_emi(
amount=1260000,
duration=8*12,
rate=0.1/12,
down_payment=3e5
)
emi1
14568
cost_of_house = 800000
home_loan_duration = 6*12 # months
home_loan_rate = 0.07/12 # monthly
home_down_payment = .25 * 800000
emi_house = loan_emi(amount=cost_of_house,
duration=home_loan_duration,
rate=home_loan_rate,
down_payment=home_down_payment)
emi_house
10230