Overview:
- The Python library numpy has the functions ppmt() and ipmt() to calculate the monthly principal payment and interest payment.
- For a given loan, the sum of the return value of the above two functions is equal to the value returned by the function pmt().
Example:
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import numpy as np
interestRate = 0.07 numberOfMonths = 25*12; principalBorrowed = 3500000
principal2Pay = np.ppmt(interestRate/12, 1, numberOfMonths, principalBorrowed); interest2Pay = np.ipmt(interestRate/12, 1, numberOfMonths, principalBorrowed);
print("Loan amount:%7.2f"%principalBorrowed); print("Loan duration in months:%d"%numberOfMonths); print("Annual Interest Rate in percent:%2.2f"%(interestRate*100));
print("Principal to be paid:%5.2f"%abs(principal2Pay)); print("Interest to be paid:%5.2f"%abs(interest2Pay)); print("Principal+Interest, to be paid:%5.2f"%abs(principal2Pay+interest2Pay)); |
Output:
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Loan amount:3500000.00 Loan duration in months:300 Annual Interest Rate in percent:7.00 Principal to be paid:4320.61 Interest to be paid:20416.67 Principal+Interest, to be paid:24737.27 |