[Feature] Loan Amortization function

[Anantashayana]

Are you adding a new feature?

• YES
• NO

Are you enhancing the old feature?

• YES
• NO

Is your feature request related to a problem?

• YES
• NO

Describe your feature/enhancement.

In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan according to an amortization schedule, typically through equal payments. Create a Loan Amortization API that calculates the loan amortization schedule, including the breakdown of principal and interest payments over the loan term.

Can you add the feature by yourself?

• YES
• NO

Additional Information

Implement a function that takes inputs such as loan amount, interest rate, loan term, and payment frequency. Utilize the appropriate formula to calculate the amortization schedule, considering factors such as compounding periods and the allocation of payments towards principal and interest. The API should return the amortization schedule as a structured output, providing details for each payment, including the remaining balance, principal portion, interest portion, and total payment amount. This functionality will enable users to understand the repayment structure of their loans and plan their finances accordingly.

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👋 @Anantashayana

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[github-actions]

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