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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
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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
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