[solved]-Write Program Figure Better Pay Loans Pay Minimal Invest Rest Money Interest Applied Month Q39077710

You will write a program to figure out if it is better to payoff your loans or pay off the minimal and invest the rest of themoney. Interest is applied monthly. So for every month, you firstapply the interest, then pay the loan and finally invest the rest.You should validate user inputs. – Money owed in loans, annualinter, minimum monthly loan payment, current age, and predictedannual rate values cannot be below 0. – The amount of money youwill be putting towards loans/retirement each month cannot be lessthan the minimum monthly loan. – Retirement age cannot be less thancurrent age.

The program should also print out a warning if you still owemoney after retiring and the amount.

Solve with python and include explanations

Output should look like below——–

Enter how much money you owe in loans: 10000
Enter the annual interest rate of the loans: .1
Enter your minimum monthly loan payment: 20
Enter how much money you will be putting towards loans/retirementeach month: 200
Enter your current age: 30
Enter the age you plan to retire at: 65
Enter your predicted annual rate of return: .2
Warning after you retire you will still have $250453.74 in loansleft.
You should only make minimum payments on your loans and invest therest
If you do you will have $11168878.10 as opposed to $4233691.68 whenyou retire.

Output should like below:
Enter how much money you owe in loans: -2
Enter how much money you owe in loans: -3
Enter how much money you owe in loans: 1000
Enter the annual interest rate of the loans: -23
Enter the annual interest rate of the loans: -2
Enter the annual interest rate of the loans: 0.3
Enter your minimum monthly loan payment: 40
Enter how much money you will be putting towards loans/retirementeach month: 100
Enter your current age: 50
Enter the age you plan to retire at: 65
Enter your predicted annual rate of return: .1
You should pay of all of your loans before you startinvesting
If you do you will have $36520.69 as opposed to $35443.26 when youretire.

Expert Answer

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Answer to You will write a program to figure out if it is better to pay off your loans or pay off the minimal and invest the rest … . . .