Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Write a C program to calculate monthly payment and print a table of payment schedule for a fixed rate loan, which performs a similar task
Write a C program to calculate monthly payment and print a table of payment schedule for a fixed rate loan, which performs a similar task as in the link below: In this C program, the input and output are defined as following: Input: amount of loan, interest rate per year and number of payments Output: a table of amortization schedule (also called payment schedule) containing payment number, monthly payment, principal paid, interest paid and new balance at each row . The attached screenshot below shows a sample of the output. uans-MacBook-Pro: PC yuanlong$ ./loanCalc nter amount of loan 500 nter Interest rate per year : % 7.5 Enter number of payments : 5 ontly payment should be 101.88 Payment $101.88 $101.88 $101.88 $101.88 101.88 Principal $98.76 $99.38 $100.00 $100.62 Interest $3.12 $2.51 $1.89 $1.26 Balance $401.24 $301.87 $201.87 $101.25 0.00 101.25 0.63
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