Question: Problem Statement You are tasked with writing a C + + program to determine the interest rate for a loan based on multiple factors and
Problem Statement
You are tasked with writing a C program to determine the interest rate for a loan based on multiple factors and then display an amortization table. The factors influencing the interest rate are the credit score, loan amount, and loan term. The program should calculate the monthly payment and display the amortization schedule, including the monthly interest paid, principal paid, and remaining balance. Interest Rate Determination:
If the credit score is above the base interest rate is
If the credit score is between and the base interest rate is
If the credit score is below the base interest rate is
Adjustments to the base interest rate:
If the loan amount is greater than $ add to the interest rate.
If the loan term is greater than years, add to the interest rate.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
