Calculating the payment amount
Another real-life problem you might encounter is how much money you need to save each month to hit a financial target within a set time.
You saw earlier that to pay off a mortgage of USD 275,000 in ten years with an annual interest rate of 3.5% compounded monthly, you needed to pay USD 2,719 per month.
If, instead, you wanted to take twenty years to pay off the mortgage, calculate how much you would need to pay per month now.
Este exercício faz parte do curso
Bond Valuation and Analysis in Python
Instruções do exercício
- Import the
numpy_financialpackage using the aliasnpf. - Use the
npf.pmt()function to calculate the required monthly payment and save this torequired_return. - Print the result.
Exercício interativo prático
Experimente este exercício completando este código de exemplo.
# Import the numpy_financial package using the alias npf
____
# Calculate monthly payment required
required_payment = ____
# Print the result
____