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Numpy Beginner's Guide (Update)

Numpy Beginner's Guide (Update)

By : Ivan Idris
2 (1)
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Numpy Beginner's Guide (Update)

Numpy Beginner's Guide (Update)

2 (1)
By: Ivan Idris

Overview of this book

This book is for the scientists, engineers, programmers, or analysts looking for a high-quality, open source mathematical library. Knowledge of Python is assumed. Also, some affinity, or at least interest, in mathematics and statistics is required. However, I have provided brief explanations and pointers to learning resources.
Table of Contents (16 chapters)
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14
C. NumPy Functions' References
15
Index

Time for action – calculating the periodic payments

Suppose you have a loan of 10 million with an interest rate of 1 percent. You have 30 years to pay the loan back. How much do you have to pay each month? Let's find out.

Call the pmt() function with the aforementioned values:

print("Payment", np.pmt(0.01/12, 12 * 30, 10000000))

The monthly payment:

Payment -32163.9520447

What just happened?

We calculated the monthly payment for a loan of 10 million at an annual rate of 1 percent. Given that we have 30 years to repay the loan the pmt() function tells us that we need to pay 32163.95 per month.

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