1 OneLogin D2L Unit 3 - Lab Assignment Instruc / x Assignment (45) YouTube X C https://bconline.broward.edu/content/Term2023/548815-CSE2COMS_COP1334C706245/Lab%20Assignments/Unit%203%20-%20Lab%20Assignment%20File.html The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount a borrower will eventually pay on a loan. Write a program that prompts the user for the loan amount, annual interest rate, and term of the loan (in years) and displays the expected monthly payment, total amount to be paid, and total interest to be paid. The monthly payment on a loan may be calculated by the following formula: Monthly Payment = Rate x (1 + Rate)N - XL ((1 + Rate)"-1) Rate - Monthly interest rate, which is the annual interest rate divided by 12, divided by 100 N- Number of monthly payments, which is the term of the loan multi- plied by 12 Notes Read values in the order shown on the Output Sample. Use getline() for strings of characters, and > > for numeric values. Don't forget to use ignore() when mixing > > and getline(). Make sure to include the manipulators setw(), right/left, fixed, showpoint & setprecision(). Notice that the "Monthly Interest Rate" shown in the report is different than the Rate that needs to be plugged into the formula. For reporting purposes, the "Monthly Interest Rate" is the annual interest rate divided by 12 months. 56 9:06 PM Clear Q. Search N A 2/8/20231 OneLogin D2L Unit 3 - Lab Assignment Instrucy/ x Assignment X (45) YouTube X C https://bconline.broward.edu/content/Term2023/548815-CSE2COMS_COP1334C706245/Lab%20Assignments/Unit%203%20-%20Lab%20Assignment%20File.html Microsoft Visual Studio Debug Console Loan Payment Calculator Please enter the following information: Borrower's Name: Taylor Davenport oaning Institution: Davie Bank & Loans oan Amount ($) : 120000 Annual Interest Rate (%) : 3.75 Term of Loan (years) : 30 Date of Report: April, 2022 Loan Payment Summary Report Davie Bank & Loans Taylor Davenport Annual Interest Rate: 3.75% Date: April, 2022 Loan Amount : $ 120000.00 Monthly Interest Rate: 0. 31% Number of Payments : 360 Monthly Payment: 555.74 Total Amount to Pay: $ 200065.94 Total Interest: $ 80065 . 94 OneDrive . .. X Screenshot saved The Text version of the Output sample for the Loan Payment Calculator program. The screenshot was added to your OneDrive. Grading Rubric 56 N 9:06 PM Clear Q Search 2/8/2023 2