Paper Key : IRJ************459
Author: Alka Rajendra Karnik,Harshavardhan Rajendra Karnik,Arjun Prakashsingh Rajput
Date Published: 06 Nov 2023
Abstract
The mortgage calculator is a fundamental tool in the real estate industry, enabling individuals and financial institutions to estimate loan affordability and repayment schedules accurately. This research paper presents a Python implementation of an efficient and user-friendly mortgage calculator. By leveraging the PyQt5 library, we developed a graphical user interface (GUI) that allows users to input loan parameters, including loan amount, interest rate, and loan term. The calculator incorporates essential financial formulas and algorithms to calculate the monthly mortgage payments.The objective of this study was to address the limitations of existing mortgage calculators by creating a solution that combines accuracy, efficiency, and usability. Through comprehensive testing and validation, we demonstrate the accuracy and reliability of our implementation. Additionally, we evaluate the performance of the calculator by measuring its execution time and memory usage.Our mortgage calculator implementation offers several advantages over existing solutions. The intuitive and user-friendly GUI ensures a seamless user experience, enabling individuals to easily access and comprehend their mortgage payment estimates. Furthermore, the incorporation of robust financial formulas guarantees precise calculations and reliable results.The significance of this research lies in the need for accessible and accurate mortgage calculators in the real estate industry. By providing individuals and financial institutions with a reliable tool, we aim to empower them to make informed decisions about home financing. Moreover, the open-source nature of our implementation encourages further contributions and enhancements from the developer community.This research paper outlines the methodology and technical details of our mortgage calculator implementation. We present the results of extensive testing and analysis, demonstrating the accuracy and efficiency of the calculator. Furthermore, we discuss the implications of our work in the real estate domain and identify potential areas for future research and improvements.In brief, our Python-based mortgage calculator offers an efficient and user-friendly solution that addresses the shortcomings of existing implementations. By leveraging the power of Python and the PyQt5 library, we provide individuals and financial institutions with a valuable tool to estimate mortgage payments accurately. This research contributes to the advancement of the real estate industry by facilitating informed financial decision-making.The abstract provides a concise summary of the research paper, including the objectives, methodology, key findings, and implications. It highlights the unique features and contributions of your mortgage calculator implementation while emphasizing the benefits it brings to the real estate domain.
DOI LINK : 10.56726/IRJMETS45791 https://www.doi.org/10.56726/IRJMETS45791