Step 1. Prompt the user to enter the annual interest rate, the loan amount, and the number of years. (The interest rate is commonly expressed as a percentage of the principal for a period of one year. This is known as the annual interest rate.)

Step 2. The input for the annual interest rate is a number, such as 4.5. The program needs to convert it into a decimal by dividing it by 100. To obtain the monthly interest rate from the annual interest rate, divide it by 12, since a year has 12 months. To obtain the monthly interest rate in decimal format, you must divide the annual interest rate in percentage by 1200. For example, if the annual interest rate is 4.5, then the monthly interest rate is 4.5/1200 = 0.00375.

Step 3. Compute the monthly payment using the preceding formula. (Step 4 is the formula)

Step 4. Compute the total payment, which is the monthly payment multiplied by 12 and multiplied by the number of years.

Step 5. Display the monthly payment and total payment

loan Amount xmonthlyInterest Rate monthly Payment = 1- (1 + monthlyInterest Rate) numberOfYears x 12 totalPayment = monthly Payment x numberOfYears x 12 loan Amount xmonthlyInterest Rate monthly Payment = 1- (1 + monthlyInterest Rate) numberOfYears x 12 totalPayment = monthly Payment x numberOfYears x 12