am I doing it right ? question regarding piece of code I wrote
<p>The problem is to write the python that calculates the interest due on a loan and prints a payment schedule.
The interest due on a loan can be calculated according to the simple formula:</p>

<p>I = P × R × T</p>

<p>where I is the interest paid, P is the amount borrowed (principal), R is the interest rate, and T is the length of the loan.</p>

<p>Finally it needs to displayed as follows:</p>

<p>Output</p>

<p>The program will print the amount borrowed, total interest paid, the amount of the monthly payment, and a payment schedule.</p>

<p>Sample session</p>

<pre><code>Loan calculator

Amount borrowed: 100
Interest rate: 6
Term (years): 1

Amount borrowed:    $100.00
Total interest paid:  $6.00

           Amount     Remaining
Pymt#       Paid       Balance
-----      -------    ---------
  0        $ 0.00      $106.00
  1        $ 8.84      $ 97.16
  2        $ 8.84      $ 88.32
  3        $ 8.84      $ 79.48
  4        $ 8.84      $ 70.64
  5        $ 8.84      $ 61.80
  6        $ 8.84      $ 52.96
  7        $ 8.84      $ 44.12
  8        $ 8.84      $ 35.28
  9        $ 8.84      $ 26.44
 10        $ 8.84      $ 17.60
 11        $ 8.84      $  8.76
 12        $ 8.76      $  0.00
</code></pre>

<p>The complete problem description is here: <a href="http://openbookproject.net/pybiblio/practice/wilson/loan.php" rel="nofollow">http://openbookproject.net/pybiblio/practice/wilson/loan.php</a>
To accomplish this I have written the code which is as follows:</p>

<pre><code>import decimal
from decimal import *
class loan_calc:

 def __init__(self):
  decimal.getcontext().prec = 3
  p = Decimal(input('Please enter your loan amount:'))
  r = Decimal(input('Please enter the rate of interest:'))
  t = Decimal(input('Please enter loan period:'))
  r_e = r/100
  i = p*r_e*t 
  term = t*12
  r_a = p+i
  amnt = p/term
  count = 0
  b_r = r_a
  print "Payment\t\tAmount Paid\t\tBal.Rem."
  while count &lt;= term:
   if count == 0:
    print count,"\t\t"'0.00'"\t\t\t",b_r
    count += 1
    b_r -= amnt
    continue

   if term - count == 1:
    amnt = b_r
    print count,"\t\t",amnt,"\t\t\t",b_r
    count += 1
    b_r -= amnt
    continue

   else: 
    print count,"\t\t",amnt,"\t\t\t",b_r
    b_r -= amnt
    count += 1
    continue



loan = loan_calc()
</code></pre>
