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please write in C program. PSET 4 DESCRIPTION for PROGRAMMING SET 4 The monthly payment on a loan may be calculated by the following formula:

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please write in C program.

PSET 4 DESCRIPTION for PROGRAMMING SET 4 The monthly payment on a loan may be calculated by the following formula: Rate *(1 + Rate) ^N Payment ((1 + Rate) ^N - 1) L [note 1] Rate is the monthly interest rate--expressed as a decimal value, which is the annual interest rate divided by 12. (128 annual interest would be 1 percent monthly interest.) [note 2] N is the number of payments, and ... L is the amount of the loan. Note 1: means exponentiation; a^b means a to the power of b Hint: Use the pow() function in the math Library. Note 2: To convert from percent to decimal Divide the percent value by 100. EXAMPLE: APPLYING THE FORMULA Write the code to compute the Monthly Payment for $10,000 loan for 36 months at 12% APR (Annual Percentage Rate) and present the results in a formatted display as shown: Loan Amount: Annual Interest Rate: Number of Payments: Monthly Payment: Amount Paid Back: Interest Paid: $ 10000.00 12.00% 36 $ 332.14 $ 11957.15 $ 1957.15 PROGRAM REQUIREMENTS for PSET_4 Write a program to compute the monthly payment on a loan. (1) The program should compute: (a) Monthly Payment (b) Amount Paid Back (c) Interest Paid (2) The Loan Amount, Number of Payments, & APR should be obtained from the keyboard and validated. (3) The output results should be presented as a formatted display as shown in the example above. TEST your Program for the following problem: You just bought a cool Red F150 Truck for $40,000. Compute your monthly payments for the financing options: (1) 60 months @ 4.20% APR* (2) 48 months @ 4.208 APR (3) 36 months @ 4.548 APR * Current Auto Loan Rates at Bankrate.com WHICH OPTION IS THE "BEST DEAL" ?? ... and WHY

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