Python Project 10-3: Interest CalculatorCreate a program that calculates the interest on a loan. This program should make it easy for the user toenter numbers.ConsoleInterest CalculatorEnter loan amount:Enter interest rate:Loan amount:Interest rate:Interest amount:Continue? (y/n): y$100,00012.275Loan amount:Interest rate:Interest amount:Continue? (y/n): n$100,000.002.275%$2,275.00Enter loan amount:100KEnter interest rate: 2.275$100,000.002.275%$2,275.00Bye!SpecificationsUse the Decimal class to make sure that all calculations are accurate. The program should round theinterest that's calculated to two decimal places, rounding up if the third decimal place is five orgreater.•The interest rate that's displayed can have up to 3 decimal places.• Assume that the user will enter valid decimal values for the loan amount and interest rate with theseexceptions:•If the user enters a dollar sign (S) at the beginning of the loan amount, remove it from the stringbefore converting the string to a number.•If the user enters a comma in the loan amount, remove it from the string before converting the string.• If the user enters a K at the end of the loan amount, remove the K from the end of the string, andmultiply the loan amount by 1000. For example, a loan amount of 50K should be converted to a valueof 50,000.If the user enters a percent sign (%) before or after the interest rate, remove it from the string beforeconverting the string to a number.

According to the information given: We have to follow the instruction to get the desired outcome-

Create a program that calculates the interest on a loan. This program should make it easy for the user to enter numbers. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: $100,000 12.275 $100,000.00 2.275%

Create a program that calculates the interest on a loan. This program should make it easy for the user to enter numbers. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: $100,000 12.275 $100,000.00 2.275%

Programming Logic & Design Comprehensive

9th Edition

ISBN:9781337669405

Author:FARRELL

Publisher:FARRELL

Chapter11: More Object-oriented Programming Concepts

Section: Chapter Questions

Problem 2GZ

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