I am currently working on a home loan app in Python language. I am creating an EMI calculator that works on user inputs like (loan amount, rate of interest, etc.) During testing, I noticed that there was a slight change in results compared to the manual testing. My code is given below: def calculate_emi(principal, rate, tenure): monthly_rate = rate / (12 * 100) # Converting annual rate to monthly emi = (principal * monthly_rate * (1 + monthly_rate) ** tenure) / ((1 + monthly_rate) ** tenure - 1) return emi # Test Case emi_value = calculate_emi(500000, 7.5, 240) # Loan: 500,000 at 7.5% for 20 years print("EMI:", emi_value) Is there something wrong with my code or is something else an issue? Continue reading...
