Write a program that reads a loan amount, payment amount, and interest rate as inputs and outputs the number of payments required until the loan is paid. Interest is added to current balance before a payment is applied. Ex: If current balance is $100.00 and the interest rate is 0.02, the new balance is $102.00 before a payment is applied. All values are floats Exif the inputs 1000.0 the output is 31 paymenta Exif the input is 50.0 100.0 (the output is: 1 paymant

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
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I need help fixing a python code

:

loan = float(input())
payment = float(input())
interest_rate = float(input())
count = 0

while(loan>payment):
    paid = payment * interest_rate
    paid_with_interest = paid + payment
    loans = loan - paid_with_interest
    count = count + 1
    
    
print(round(loans), "payments")

Write a program that reads a loan amount, payment amount, and interest rate as inputs and outputs the number of payments required until
the loan is paid. Interest is added to current balance before a payment is applied. Ex: If current balance is $100.00 and the interest rate is
0.02, the new balance is $102.00 before a payment is applied. All values are floats.
Ex If the input is
1000.0
50.0
0.03
the output is:
31 paymenta
Ex If the input is
50.0
100.0
0.02
the output is:
1 payment
Transcribed Image Text:Write a program that reads a loan amount, payment amount, and interest rate as inputs and outputs the number of payments required until the loan is paid. Interest is added to current balance before a payment is applied. Ex: If current balance is $100.00 and the interest rate is 0.02, the new balance is $102.00 before a payment is applied. All values are floats. Ex If the input is 1000.0 50.0 0.03 the output is: 31 paymenta Ex If the input is 50.0 100.0 0.02 the output is: 1 payment
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