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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}")
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