[C++]write a program that will compute a monthly payment. You are to have, at least, 1 function ( other than main() ) in your program.

 Part 1:  The formula for computing the monthly payment for a long term loan is shown below. P * mir Payment = --------------------------- --- --- 12*y | 1 | 1 - | ------- | | 1 + mir | --- --- P Principal mir interest rate for 1 month y number of years The input to the program (from the keyboard) is the Principal (P=70000), the yearly interest rate (yir=9.5) and the number of years (y=30). The output is a line similar to the following: Principal 70000.00 Interest Rate 9.5000 Years 30.0 Payment 588.60 To solve this problem you can (if you want to) break it up into parts, then compute each part. The following table shows the calculations that have to be performed, along with values for a $70,000 loan at 9.5% over 30 years. You can use these numbers to check your program. 

yir mir = ---- 1200	.007916
a = 1 + mir	1.007916
1 b = --- a	.992145514
c = 12 * y	360
c d = b	.058497109
e = 1 - d	.94150289
f = p * mir	554.12
f payment = --- e	588.60

 Part 2  You are to generate and print the first 8 rows and the last 8 rows of a complete amortization table, very similar to the one shown below (including the dashes). You are to have (and reference), at least, 1 function (other than main) in your program. Sample output: ------------------------------------------------------------------------- | Principal 70000.00 Interest Rate 9.5000 Years 30.0 Payment 588.60 | | | | Month Pay Total Monthly Principal Total Remaining | | Paid Interest Paid Principal Balance | | Paid | | | | 1 588.60 588.60 554.17 34.43 34.43 69965.57 | | 2 588.60 1177.20 553.89 34.70 69.14 69930.86 | | 3 588.60 1765.79 553.62 34.98 104.11 69895.89 | | 4 588.60 2354.39 553.34 35.26 139.37 69860.63 | | 5 588.60 2942.99 553.06 35.53 174.90 69825.10 | | 6 588.60 3531.59 552.78 35.82 210.72 69789.28 | | 7 588.60 4120.19 552.50 36.10 246.82 69753.18 | | 8 588.60 4708.78 552.21 36.39 283.20 69716.80 | | - - - - - - - | | 353 588.60 207775.07 35.98 552.61 66007.25 3992.75 | | 354 588.60 208363.67 31.61 556.99 66564.24 3435.76 | | 355 588.60 208952.27 27.20 561.40 67125.64 2874.36 | | 356 588.60 209540.87 22.76 565.84 67691.48 2308.52 | | 357 588.60 210129.47 18.28 570.32 68261.80 1738.20 | | 358 588.60 210718.06 13.76 574.84 68836.64 1163.36 | | 359 588.60 211306.66 9.21 579.39 69416.03 583.97 | | 360 588.60 211895.26 4.62 583.97 70000.00 0.00 | ------------------------------------------------------------------------- Notes: Generate the table so that you would get valid output for a 30 year loan or a 5 year loan. Formatting in C++ is rather involved. You want to make sure that the periods (in the numbers) line up. Before you start printing, you should specify the number of decimal places to be printed. You should also specify that the numbers should be printed in fixed format. You only have to do this once. cout << setprecision(2) << fixed To print a variable 'var', right justified, in 10 columns, use the following. cout << setw(10) << var; setw is used to specify the number of columns setprecision is used to specify the number of decimal places. fixed is used to specify that the number is NOT to be printed in scientific notation. To use the preceding formatting options, you will need the following preprocessor command at the top of your program. #include