In Microsoft Visual Studio (C#):

The formula to calculate the monthly payment, given loan L, term T in year and annual interest rate R is:

Create a form with textboxes to enter loan, term in year and annual interest rate, and a button to compute and display the monthly payment in a read-only textbox with a currency format. You should use label to label textboxes. Submit the code view and the screenshot of the form as it runs.

Note 1: Test your program with the following data: Loan = $500,000, annual rate = 3.5%, term = 30 years. You may use Excels PMT function to verify your output.

Note 2: The annual interest rate should be entered without the percentage sign. For example, 4.5% should enter as .045. Use a label next to the interest rate textbox to explain how to enter the rate.

Note 3: Use comment lines to enter your name, section and a brief description of the purpose of this program.

Note 4: Variable names must be meaningful and have at least 4 characters.

12 Monthlypcyment- 1-(14)-12T