Overview:
- Given the values for the interest rate, payment amount(due, installment, periodic payment amount) and the net present value towards a loan, the number of payments required to complete the loan payment is calculated by the nper() function of numpy.
Example:
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# Example Python program that calculates # the number of payments required to complete # the payment for a loan
import numpy as np
compoundingFrequency = 1; # Once in 12 months interestRatepercent = 7; outstandingLoanAmount = 75000;
periodicPayment = 1200;
numberOfPayments = np.nper((interestRatepercent/100)/12, -periodicPayment, outstandingLoanAmount); paymentMonths = np.round(numberOfPayments, 3);
print("Number of months required to complete the loan payment:"); print(paymentMonths); |
Output:
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Number of months required to complete the loan payment: 77.965 |