Question: 5. [Bonus Problem] Write a Program to create a table containing a customized loan amortization table. Your program will prompt the user to enter the

 5. [Bonus Problem] Write a Program to create a table containinga customized loan amortization table. Your program will prompt the user to

5. [Bonus Problem] Write a Program to create a table containing a customized loan amortization table. Your program will prompt the user to enter the amount borrowed (the principal), the annual percentage rate of charge (APR) that describes the annual interest rate (format: 5.05 is 5.5%), and the number of monthly payments (m). To calculate the monthly payment, use the following formula: iP payment 1 (1 i-n where P is the initial principal amount i is the monthly interest rate 12 Of the APR) n is the total number of payments payment periods) Note that this payment must be rounded to the nearest cent. After the payment has been rounded to the nearest cent, the program will create a table that looks like the following

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!