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Help! In vs if you cannn Interest and Mortgage payment Write a program that calculates the cost of a Mortgage. The program should prompt for
Help! In vs if you cannn
Interest and Mortgage payment Write a program that calculates the cost of a Mortgage. The program should prompt for initial values for the principal amount, the terms in years, and the interest rate. The program should output the mortgage amount per month, and show the amounts paid towards the principal amount and the monthly interest for the first three years. Determine the principal amount after the end of the first three years. Use the following formula to calculate the mortgage payment: Monthly payment = Principal times MonthlyInterestRate/(1 - (1/(1 + MonthlyInterestRate)^Years times 12)) Use the following input: a) Principal Amount: $250,000 Yearly Rate: 6% Number of Years 30 b) Principal Amount: $250,000 Yearly Rate: 7.5% Number of Years 30 c) Principal Amount: $250,000 Yearly Rate: 6% Number of Years 15 d) Principal Amount: $500,000 Yearly Rate: 6% Number of Years 30 Step by Step Solution
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