Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solution? c++ Problem 1: Financial Application The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed by

solution? image text in transcribed
image text in transcribed
c++
Problem 1: Financial Application The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed by multiplying the monthly interest rate and the balance the remaining principal). The principal paid for the month is therefore the monthly payment minuas the monthly interest Write a program that lets the user enter the loan amount, number of years, and interest rate and displays the amortization schedule for the loan. Output answers in decimal form to two places. Your program should allow the user to repeat this calculation as often as the user wishes (handle both upper and lower case Y and N). Input Validation: Do not accept negative values for loan amount number of years and interest rate. Sample output: Enter loan amount: 10000 Enter number of years as an integer-2 Invalid Enter number of years again: 2 Enter yearly interest rate: 4 Loan Amount 10000 Number of Years: 2 Interest Rate: 4% Monthly Payment 434.24 Total Payment. 10422 Payment Interest Principal Balance Payment Interest Principal Balance 33.33 31.99 400.91 402.25 9599.09 9196.84 : 24 2.88 1.44 431.36 432.8 432.89 0.08 Would you like to compute again (Y or N): N

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Visual C# And Databases

Authors: Philip Conrod, Lou Tylee

16th Edition

1951077083, 978-1951077082

More Books

Students also viewed these Databases questions

Question

4. What action should Cherita Howard take and why?

Answered: 1 week ago