Calculating mortgage interest in Python

Question

I am currently learning python through a video tutorial on youtube, and have come up against a formula I cannot seem to grasp, as nothing looks right to me. The basic conc

Answer 1

This mortgage package does it nicely:

>>> import mortgage
>>> m=mortgage.Mortgage(interest=0.0375, amount=350000, months=360)
>>> mortgage.print_summary(m)
                     Rate:      0.037500
             Month Growth:      1.003125
                      APY:      0.038151
             Payoff Years:            30
            Payoff Months:           360
                   Amount:     350000.00
          Monthly Payment:       1620.91
           Annual Payment:      19450.92
             Total Payout:     583527.60