I asked ChatGPT to give me a code example to calculate the paid interest rate over some years. Here is how it fails:
Me: I would like the necessary code to calculate total interest rate paid for a loan in Python
ChatGPT: Here is some sample code to calculate the total interest paid on a loan in Python:
# Initialize variables
principal = 10000 # The initial amount borrowed
rate = 0.05 # The annual interest rate
years = 5 # The number of years the loan is taken out for
# Calculate the total interest paid
total_interest = principal * rate * years
# Print the result
print("Total interest paid: $" + str(total_interest))
This code assumes that the interest rate is a fixed annual rate and that the payments are made on a yearly basis. If you need to calculate the interest rate on a different schedule, you will need to adjust the formula accordingly.
Note: This code snippet is just an example of how to calculate the total interest paid on a loan, it might not be accurate to real world scenarios, you might need to adjust it based on your specific use case.
And some people are still bashing on TV and Youtube that the time people will be replaced by AI is closer… I think it proves that it’s far away like it was 20 years ago…