Create app.py

app.py

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+
+def loan_emi(amount, duration, rate, down_payment=0):
+    """
+    Calculate the Equated Monthly Installment (EMI) for a loan.
+    
+    Parameters:
+    amount (float): Total loan amount (principal).
+    duration (int): Loan duration in months.
+    rate (float): Monthly interest rate (as a decimal, e.g., 0.1 for 10%).
+    down_payment (float, optional): Initial amount paid upfront. Default is 0.
+    
+    Returns:
+    float: EMI amount rounded to 2 decimal places.
+    """
+    loan_amount = amount - down_payment
+    emi = (loan_amount * rate * ((1 + rate) ** duration)) / (((1 + rate) ** duration) - 1)
+    return round(emi, 2)
+
+# Example usage
+if __name__ == "__main__":
+    amount = float(input("Enter the loan amount: "))  # Principal amount
+    duration = int(input("Enter the loan duration in months: "))  # Loan duration in months
+    rate = float(input("Enter the monthly interest rate (as decimal, e.g., 0.1 for 10%): "))  # Monthly interest rate
+    down_payment = float(input("Enter the down payment amount (if any, else 0): "))
+    
+    emi_value = loan_emi(amount, duration, rate, down_payment)
+    print(f"Monthly EMI: {emi_value}")