# Compute the payment amount and total cost of borrowing for a car loan from
# the amount borrowed, interest rate and loan duration entered by the user.
# Read the amount borrowed, interest rate and loan duration from the user
amount = float(input("Enter the loan amount: "))
rate = float(input("Enter the interest rate (5 for 5%): "))
years = int(input("Enter the loan duration in years: "))
# Convert the interest rate from a percentage into a decimal, and from an
# annual rate to the rate per payment period
rate = rate / 100 / 12
# Compute the number of payments
num_payments = years * 12
# Compute the payment amount
payment = (rate * amount) / (1 - (1 + rate) ** -num_payments)
# Compute the total cost of borrowing
cost = num_payments * payment - amount
# Display the results formatted to 2 decimal places
print("Your monthly payment will be: $%.2f." % payment)
print("The total cost of borrowing is: $%.2f." % cost)