Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Create a loan payment program that can be used for any loan amount such as a home or car loan. The program should ask
2. Create a loan payment program that can be used for any loan amount such as a home or car loan. The program should ask the user for the input values below, compute the monthly payment, then compute the monthly balance. Display the balance in a table Month Balance $ #### $ ##.## $ ##.## ... etc Use the formula PMT=P*(r(1+r)^n)/((1+r)^n-1) PMT = the monthly payment. P= the principal r= the interest rate per month, which equals the annual interest rate divided by 12 n= the total number of months You can know if you have it right when the last month's balance is $0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started