Loan Calculator in Python with Source Code

The Loan Calculator in Python is developed in python programming language and it is a desktop application. This system is created using tkinter and graphical user interface.

This Simple Loan Calculator in Python is free to download the open source code. The task record contains a python content ( loan_calculator.py). Likewise, this task makes a helpful path for the client to increase a thought of how to perform advance computations.

Simple Loan Calculator in Python – Project Information’s

Project Name:Simple Loan Calculator in Python
Language/s Used:Python (GUI) Based
Python version (Recommended):2.x or 3.x
Database:None
Type:Python App
Developer:IT SOURCECODE
Updates:0
How To Make a Loan Calculator in Python

The task is for the client advantageous, to assist them with getting some answers concerning the regularly scheduled installments on a particular credit.

This venture is for monetary ascertaining to make sense of the credit’s customary regularly scheduled installment, with all out installment and the absolute intrigue. Also, the client needs to pay those installments over the span of the advance.

Discussing the highlights of this loan calculator framework, this python application is intended to compute regularly scheduled installments to expect for a straightforward credit.

Thus, you can basically enter the credit sum, the term(years) and financing cost in the content fields and snap ‘ascertain advance’ button. It isn’t equipped for dealing with a wide range of exemptions.

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Before you start creating this Loan Calculator in Python, make sure that you have PyCharm IDE installed in your computer.

Steps on how to create Loan Calculator in Python

Time needed: 5 minutes.

These are the steps on how to make a Loan Calculator in Python with Source Code

  • Step 1: Create a project name.

    First when you finished installed the Pycharm IDE in your computer, open it and then create a “project name” after creating a project name click the “create” button.
    Creating Project Name in Loan Calculator in Python with Source Code

  • Step 2: Create a python file.

    Second after creating a project name, “right click” your project name and then click “new” after that click the “python file“.Creating Python file Name in Loan Calculator in Python with Source Code

  • Step 3: Name your python file.

    Third after creating a python file, Name your python file after that click “enter“.Naming Python file Name in Loan Calculator in Python with Source Code

  • Step 4: The actual code.

    This is the actual coding on how to create Loan Calculator System in Python, and you are free to copy this code and download the full source code given below.

Code Explanations

1. Importing Tkinter Module

Code:

from tkinter import *

Explanation:

Tkinter is the standard GUI library for Python. Python when combined with Tkinter provides a fast and easy way to create GUI applications.

2. This module is for the design of window and title

Code:

def __init__(self):
# creating the window here
window = Tk()

# set the title
window.title('Loan Calculator System')

Explanation:

In the code given below, which is for the design of window and title used in the system.

3. This module is for the background color

Code:

window.config(background='navajowhite')

Explanation:

In the code given below, which is for the background color used in a system

4. This module is for the label

Code:

Label(window, text='Annual Interest Rate', bg='navajowhite', borderwidth=4).grid(row=1, column=1, sticky=W)

Label(window, text='Numbers of Years', bg='navajowhite', borderwidth=4).grid(row=2, column=1, sticky=W)

Label(window, text='Loan Amount', bg='navajowhite', borderwidth=4).grid(row=3, column=1, sticky=W)

Label(window, text='Monthly Payment', bg='navajowhite', borderwidth=4).grid(row=4, column=1, sticky=W)

Label(window, text='Total Payment', bg='navajowhite', borderwidth=4).grid(row=5, column=1, sticky=W)

Explanation:

In the code given below, which is for the label used in a system, the label for annual interest rate, numbers of years, loan amount, monthly payment and total payment.

5. This module is for the entry widgets

Code:

self.Int_for_Annual = StringVar()
Entry(window, textvariable=self.Int_for_Annual, justify=RIGHT).grid(row=1, column=2, sticky=E)

self.yrs = StringVar()
Entry(window, textvariable=self.yrs, justify=RIGHT).grid(row=2, column=2, sticky=E)

self.amt = StringVar()
Entry(window, textvariable=self.amt, justify=RIGHT).grid(row=3, column=2, sticky=E)

self.mon_payment = StringVar()
Label(window, textvariable=self.mon_payment).grid(row=4, column=2, sticky=E)

self.tot_payment = StringVar()
Label(window, textvariable=self.tot_payment).grid(row=5, column=2, sticky=E)

Explanation:

In the code given below, which is for the entry widgets used in a system. Such as entry of annual interest, years, amount, monthly payment, and total payment.

6. This module is for the button

Code:

computation = Button(window, text='Compute Loan', command=self.Payment_Computation).grid(row=6, column=2, sticky=E)

Explanation:

In the code given below, which is for the button for Compute Loan.

7. This module is for the total payment

Code:

def Payment_Computation(self):
month = self.Getting_Payment_in_Monthly(
float(self.amt.get()),
float(self.Int_for_Annual.get()) / 1200,
int(self.yrs.get()))

self.mon_payment.set(format(month, '10.2f'))

tot = float(self.mon_payment.get()) * 12 * int(self.yrs.get())

self.tot_payment.set(format(tot, '10.2f'))

Explanation:

In the code given below, which is for the computation of total payment of loan.

8. This module is for the monthly payment

Code:

def Getting_Payment_in_Monthly(self, Amount_Loan, mon_rate_interest, no_of_yrs):
# compute the monthly payment.
month = Amount_Loan * mon_rate_interest / (1
- 1 / (1 + mon_rate_interest) ** (no_of_yrs * 12))

Explanation:

In the code given below, which is for the computation of monthly payment.

Complete Source Code

from tkinter import *

class loanCal():

def __init__(self):
# creating the window here
window = Tk()

# set the title
window.title('Loan Calculator System')



# set the background color
window.config(background='navajowhite')

# creating the labels
Label(window, text='Annual Interest Rate', bg='navajowhite', borderwidth=4).grid(row=1, column=1, sticky=W)

Label(window, text='Numbers of Years', bg='navajowhite', borderwidth=4).grid(row=2, column=1, sticky=W)

Label(window, text='Loan Amount', bg='navajowhite', borderwidth=4).grid(row=3, column=1, sticky=W)

Label(window, text='Monthly Payment', bg='navajowhite', borderwidth=4).grid(row=4, column=1, sticky=W)

Label(window, text='Total Payment', bg='navajowhite', borderwidth=4).grid(row=5, column=1, sticky=W)

# Create the Entry Widgets
self.Int_for_Annual = StringVar()
Entry(window, textvariable=self.Int_for_Annual, justify=RIGHT).grid(row=1, column=2, sticky=E)

self.yrs = StringVar()
Entry(window, textvariable=self.yrs, justify=RIGHT).grid(row=2, column=2, sticky=E)

self.amt = StringVar()
Entry(window, textvariable=self.amt, justify=RIGHT).grid(row=3, column=2, sticky=E)

self.mon_payment = StringVar()
Label(window, textvariable=self.mon_payment).grid(row=4, column=2, sticky=E)

self.tot_payment = StringVar()
Label(window, textvariable=self.tot_payment).grid(row=5, column=2, sticky=E)

# CREATING BUTTONS
computation = Button(window, text='Compute Loan', command=self.Payment_Computation).grid(row=6, column=2, sticky=E)

window.mainloop()

# compute the total payment.
def Payment_Computation(self):
month = self.Getting_Payment_in_Monthly(
float(self.amt.get()),
float(self.Int_for_Annual.get()) / 1200,
int(self.yrs.get()))

self.mon_payment.set(format(month, '10.2f'))

tot = float(self.mon_payment.get()) * 12 * int(self.yrs.get())

self.tot_payment.set(format(tot, '10.2f'))

def Getting_Payment_in_Monthly(self, Amount_Loan, mon_rate_interest, no_of_yrs):
# compute the monthly payment.
month = Amount_Loan * mon_rate_interest / (1
- 1 / (1 + mon_rate_interest) ** (no_of_yrs * 12))
return month;


loanCal()

Downloadable Source Code 

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Conclusion

In this Loan Calculator in Python with Source Code is free to download. Loan Calculator contains the admin side. This task makes a helpful path for the client to increase a thought of how to perform advance computations.

This project is good for the student who want to learn python programming because this project contains a Graphical User Interface (GUI) and a users friendly. It is easy to understand and manipulate this project and use for education purpose only.

Inquiries

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