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I think the solution for programming project 3 on page 175 might be missing a few lines. I can not get the interest rate cannot
I think the solution for programming project 3 on page 175 might be missing a few lines. I can not get the interest rate cannot be that high or the duration must be less than 50 years to show. Also, the total interest paid is coming up in the monthly payment box and the monthly payment is not showing. Please help, thank you.
Car Loan Write a program to analyze a car loan. See Fig. 4.60. The user should enter the amount of the loan, the annual percentage rate of interest, and the duration of the loan in months. When the user clicks on the button, the information that was entered should be checked to make sure it is reasonable. If bad data have been supplied, the user should be so advised. Otherwise, the monthly payment and the total amount of interest paid should be displayed. The formula for the monthly payment is monthly payment = -(1 + r) is the monthly interest rate where p is the amount of the loan, r annual rate divided by 12) given as a number between 0 (for 0 %) and 1 (for 100 %), and n is the duration of the loan in months. The formula for the total interest paid is total interest n [monthly payment-p Car Loan Interest rate: Duration in months 60 Analyze Monthly payment: $341.75 Total interest paid: $2.504.86 Possible outcome of Programming Project 3. FIGURE 4.60Step by Step Solution
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