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C++ There are many different types of installation loans. One form of loan is the mortgage. Write a program that lets the user enter the
C++
There are many different types of installation loans. One form of loan is the mortgage. Write a program that lets the user enter the loan amount, number of years, annual interest rate and displays the amortization schedule for the loan. Suppose a loan entered by the user is $10000, the interest rate is 4%, and the duration is 24 months. The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is therefore the monthly payment minus the monthly interest. Your program MUST use three functions. - One to read in the data from the user, - One to calculate the monthly payment - One to print the results. - A function getData called by main that takes three arguments: the loan amount, the annual interest rate, and the number of years of the loan. Call-by-reference parameters should be used to return these values. - A function monthlyPayment called by main that accepts three arguments: the loan amount, the annual interest rate, and the number of years of the loan. The monthly payment should be returned as a double. - A function display that accept four arguments: the loan amount, the interest rate, the number of months of the loan, and the monthly payment. Monthly Payment: 434.24 Total Payment: 10422 Would you like to calculate another loan (Y or N)? nStep by Step Solution
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