Formula for calculating interest Python -

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i learning python through video tutorial on youtube, , have come against formula cannot seem grasp, nothing looks right me. basic concept of excersise make mortgage calculator asks user input 3 pieces of information, loan amount, interest rate, , loan term (years)

then calculates monthly payments user. here code: 

__author__ = 'rick' # program calculates monthly repayments on interest rate loan/mortgage.  loanamount = input("how want borrow? \n") interestrate = input("what interest rate on loan? \n") repaymentlength = input("how many years repay loan? \n")  #converting string input variables float loanamount = float(loanamount) interestrate = float(interestrate) repaymentlength = float(repaymentlength)  #working out interest rate decimal number interestcalculation = interestrate / 100  print(interestrate) print(interestcalculation)  #working out number of payments on course of loan period. numberofpayments = repaymentlength*12  #formula #m = l[i(1+i)n] / [(1+i)n-1]  #   * m = monthly payment (what trying find out) #   * l = loan amount (loanamount) #   * = interest rate (for interest rate of 5%, = 0.05 (interestcalculation) #   * n = number of payments (repaymentlength)  monthlyrepaymentcost = loanamount * interestcalculation * (1+interestcalculation) * numberofpayments / ((1+interestcalculation) * numberofpayments - 1) #this bit of code suppose right isnt--- # repaymentcost = loanamount * interestrate * (1+ interestrate) * numberofpayments  / ((1 + interestrate) * numberofpayments -1)  #working out total cost of repayment on full term of loan totalcharge = (monthlyrepaymentcost * numberofpayments) - loanamount   print("you want borrow £" + str(loanamount) + " on " + str(repaymentlength) + " years, interest rate of " + str(interestrate) + "%!")  print("your monthly repayment £" + str(monthlyrepaymentcost))  print("your monthly repayment £%.2f " % monthlyrepaymentcost)  print("the total charge on loan £%.2f !" % totalcharge)

everything works, value throws out @ end wrong... £100 loan interest rate of 10% on 1 year shouldn't making me pay £0.83 per month. in getting head around equation me understand appreciated. 

loan = input('enter loan amount: ') loan = float(loan)  numberofpayments = input('enter loan payments in years: ') numberofpayments = float(numberofpayments) * 12  interest = input('annuel interest rate: ') interest = float(interest)/100/12  monthlypayments = loan * (interest * (1 + interest) ** numberofpayments) /    ((1 + interest) ** numberofpayments - 1)  print (round(monthlypayments))

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