Answer to Question #5102 in C++ for AZMIR

Question

Problem Statement: You are required to write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 3.50% to 8.00%, with an increment of 0.25. If you enter the loan amount 5,000 for five years, it will display a table as follows:

Loan Amount: 5000
Number of Years: 5

Interest Rate Monthly Payment Total Payment

3.5% 146.51 5274.37
3.75% 147.06 5294.32
4.0% 147.61 5314.31
…
7.75% 156.1 5619.8
8.0% 156.68 5640.54


What is the main purpose of developing this program? Elaborate your steps to solve the problem and determine the input, process and output for the program. Finally write a pseudo-code and draw a flowchart to solve this problem.

Answer 1

#include <iostream.h>
#include <conio.h>
#include <math.h>
main(){
float L,ap,mp,tp,C;& //L - loan amount, ap - annual payment, mp - monthly payment, tp - total payment, c - interest rate
int Y,N,i; //Y - loan period in years, N - loan period in months, i - counter
cout<<"Enter the loan amount: ";
cin>>L;
cout<<"Enter the loan period: ";
cin>>Y;
cout<<"InterestRate"<<"& quot;<<"MonthlyPayment"<<"& quot;<<"TotalPayment\r\n";
C = 3.5;
for (i=0;i<=18;i++){
& //the month payment is one-twelfth of an annual payment:
& mp = ( L + ( ( L * C/100 ) * Y ) ) / ( Y * 12 );
& //Let's calculate the total payment:
& tp = mp*12*Y;
& //printing results:
& cout<<C<<"%& quot;<<mp<<"& quot;<<tp<<"\r\n";
& //calculating next interest value:
& C = C+0.25;
& }
getch();
}