Loan Calculator using PyQt5 in Python

Calculator for Loans Written in Python Using PyQt5

This article will walk you through the process of creating a loan calculator using PyQt5, demonstrating how to do so.

PyQt5, which stands for Python bindings for Qt version 5, is now accessible to users. PyQt5, an open-source graphical user interface toolkit that works across several platforms, is a set of Python bindings for Qt version 5. Because of the features and ease of use given by this toolkit, developing an interactive desktop application is a very straightforward process. It allows Python to be used as an alternative to C++ for application development on all supported platforms, including iOS and Android. This includes the possibility of using Python. More than 35 extension modules are used in its implementation.

The primary focus of this article is on developing a mortgage calculator by using a Python module known as PyQt5. A borrower and a lender enter into a contractual arrangement in the form of a loan in which the borrower receives a quantity of money (the principle) that they are obligated to return at a later date. In addition, we make use of Loan Calculator in order to arrive at this number. The PyQt5 library will be used throughout the development of this Loan Calculator.

Thus, we shall begin with the fundamental instructions that need to be carried out.

Methods for creating a graphical user interface

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1. Make a heading label with the name of the calculator.
2. Make a label and line edit pair for the interest rate, with the label indicating what the user must write and the line edit allowing text entry.
3. Create a pair in a similar manner for the amount and the year.
4. Construct a calculator push button.
5. Design a label that displays the estimated monthly payment.
6. Make a label to display the total amount computed.

The stages involved in the implementation on the back end

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1. Change the line edit to only take numbers as input;
2. Add a push button action.
3. Within the push button action, retrieve the line edits’ text.
4. Determine if the line edit text is empty or zero, and then return to prevent continued execution of the procedure.
5. Change the value of the text to an integer.
6. Determine the monthly sum and add it to the label.
7. Add up the monthly amounts to get the total, then label the result.

Going through the code line by line

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First things first, the very first thing that we did was import all of the necessary modules into our software. Here are some of the files that were imported: QtWidgets, QtCore, QtGui, and sys.

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