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As part of my 30 Days of Python Projects, Day 11 focuses on functions and how reusable code can solve real-world problems. Today’s project tackles a common financial challenge faced by Nigerian and African SMEs.
🌍 Problem Background (Nigerian / African Context)
Many Nigerian SMEs:
- Borrow from microfinance banks or cooperative societies
- Need to calculate loan repayments with interest
- Often rely on manual calculations using paper, calculators, or Excel
❌ Challenges with Manual Calculation
- Errors in principal or interest
- Delays in repayment planning
- Confusion when managing multiple loans
❗ The Real-World Problem
Business owners often lack:
- A simple, reusable tool for loan calculations
- The ability to simulate repayment scenarios quickly
- An easy way to track multiple loans
👥 Who This Project Helps
- SME owners & market traders
- Microfinance bank officers
- Cooperative societies
- Nigerian startups supporting SMEs
🌱 Why This Problem Matters in Africa
- SMEs are the backbone of Africa’s economy
- Accurate repayment planning reduces loan defaults
- Simple Python tools improve financial literacy and confidence
🧠 Python Concepts & Tools Used (Day 11 Focus)
✅ Function creation (def)
✅ Parameters & arguments
✅ Return values (return)
✅ Optional arguments & defaults
✅ Docstrings for documentation
✅ Reusability & clean code
⚙️ Core Features
- Input loan principal, interest rate, and duration
- Calculate monthly repayment
- Calculate total repayment
- Support multiple loan simulations
- Print clean, formatted results
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