Interest rates given are annual interests rates, but we will be assuming that interest is compounded monthly, so the real rates to use will be 1/12 of what we are given. We will assume that interest is compounded on our accounts before any payments or contributions are made to them. If the user has not finished paying off all of their loans before they retire a warning message should be printed.

Write a program in C for this scenario.

Sample output:

Enter how much money you will be putting towards loans/retirement each month: 500

Enter how much you owe in loans: 40000

Enter the annual interest rate of the loans: 0.03

Enter your minimum monthly loan payment: 405.32

Enter your current age: 22

Enter the age you plan to retire at: 65

Enter the annual rate of return you predict for your investments: .05

You should only make the minimum payments on your loan and apply the rest towards retirement.

If you do you will have $592888.96 when you retire as opposed to $587281.54 if you paid off your loan before

investing.