Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lab 3 - Mortgage Mortgage Payment Design a class that will determine the monthly payment on a home mortgage. The monthly payment with interest compounded
Lab 3 - Mortgage Mortgage Payment Design a class that will determine the monthly payment on a home mortgage. The monthly payment with interest compounded monthly can be calculated as follows: Rate Loan X X Term 12 Payment = Term - 1 where Rate 12x Years Term = (1 + 12 Payment = the monthly payment Loan = the dollar amount of the loan Rate = the annual interest rate Years = the number of years of the loan The class Mortgage should have member functions for setting the loan amount, interest rate, and number of years of the loan. It should also have member functions for returning the monthly payment amount and the total amount paid to the bank at the end of the loan period. Implement the class in a complete program. Input Validation: Only accept numbers. Program will exit if loan number is less than 0. After calculating and print out mortgage information, ask user if run the program again. If user enter 'Y' or 'y' then program will ask user to calculate another mortgage amount. If user enters anything other than 'Y' or 'y', program will exist will Have a nice day printed. Use the sample data in the screenshot below as your input in the example below: Data validation: use ten as input to check for number only Loan amount: 250000 Interest rate: 2.875 Loan year: 30 your program output should be something similar as below: Program written by: Ron Sha Course Info: CS-116 Mortgage Date: Sun Feb 07 14:34:10 2021 Enter the amount of the loan (0. Please re-enter: Enter the amount of the loan (
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started