Loan Calculator

• Prompt user for:
  • total loan amount (in rupees)
  • loan tenure (in years)
  • annual interest rate (in percent)
  • down payment rate (percentage of total loan, 0 if no down payment)
• Calculate:
  • down payment
  • monthly EMI:

    • For monthly EMI, first the annual interest rate needs to be converted to monthly interest rate.

      monthly_rate = (annual_interest_rate / 100) / 12

    • Then, the tenure in years needs to be converted to number of monthly installments.

    • Now finally, calculate EMI using the standard formula:

      EMI = (P x r x (1 + r)n) / ((1 + r)n - 1)

      where,

      P - financed principal amout after down payment

      r - monthly interest rate

      n - number of monthly installments

  • total payment over the loan tenure
  • overpayment amount (the extra amount compared to the original loan amount that is paid over the loan tenure)
• Display the calculated values in a user friendly manner.

### Loan Calculator ###
Enter total loan amount (rs.): 250000
Enter loan tenure (in years): 5
Enter annual interest rate (in %): 12
Enter down payment rate (% of total amount, 0 if none): 10

### Loan Repayment Details ###
Down payment: rs.25000.00
Monthly EMI: rs.5005.00
Total amount paid: rs.325300.00
Total overpayment (interest): rs.75300.00