I need help fixing a python code:loan = float(input())payment = float(input())interest_rate = float(input())count = 0while(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 untilthe 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 is0.02, the new balance is $102.00 before a payment is applied. All values are floats.Ex If the input is1000.050.00.03the output is:31 paymentaEx If the input is50.0100.00.02the output is:1 payment

Algorithm: 1. Start 2. Get loan, payment, and interest rate inputs from the user. 3. Initialize…

Answered: Write a program that reads a loan…

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

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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

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