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

I also came accross this problem and this is my solution

loan = input('Enter Loan Amount: ')
loan = float(loan)

numberOfPayments = input('Enter Loan payments in years: ')
numberOfPayments = float(numberOfPayments) * 12

interest = input('Annuel interest Rate: ')
interest = float(interest)/100/12

monthlyPayments = loan * (interest * (1 + interest) ** numberOfPayments) / ((1 + interest) ** numberOfPayments - 1)

print (round(monthlyPayments))