Answer to Question #12886 in C++ for shalennee

Question

You are required to calculate the monthly hire purchase repayment based on the loan amount, the duration of the loan (in years), and the fixed interest rate charged by the bank annually (in whole number). The calculation for the loan repayment is shown below:
Monthly payment= loanAmount + (loanAmount x (rate / 100) x duration)
duration x 12

You should ask from the user to provide all the three input and display the total amount of loan, the duration of the loan, the interest rate, the total amount payable, and the monthly repayment.

Answer 1

#include<iostream>
#include<conio.h>
using namespace
std;
int main()
{
float loanAmount,
interestrate,thedurationoftheloan,Monthlypayment;
cout<<"Enter loan
Amount: ";
cin>>loanAmount;
cout<<"Enter interest rate:
";
cin>>interestrate;
cout<<"Enter the duration of the loan:
";
cin>>thedurationoftheloan;
Monthlypayment= loanAmount +
(loanAmount * (interestrate / 100) *
thedurationoftheloan*12);
cout<<"Monthly payment =
"<<Monthlypayment;
getch();
return 0;
}