Question: Using C + + and netbeans: You have just purchased a stereo system that costs $ 1 0 0 0 . 0 0 on the

Using C++ and netbeans: You have just purchased a stereo system that costs $1000.00 on the following credit plan: no down
payment, an interest rate of 18% per year (and hence 1.5% per month), and monthly payments of
$50.00. A portion of the monthly payment of $50.00 is first used to pay the interest, and whatever is
left is used to pay part of the remaining debt.
After the first month, you pay 1.5% of $1,000 in interest, which is $15.00. So the remaining $35.00 is
deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of
1.5% of $965.00, which is $14.48. Therefore, you can deduct $35.52($50.00- $14.48= $35.52) from
your current debt.
Write a program that will tell you how many months it will take you to pay off the loan, as well as the
total amount of interest paid over the life of the loan. After each month, also print the interest payment,
loan payment, and remaining balance on the loan.
Specifications:
Use Netbeans to create a HW04 project, and a main.cpp file using C++. Use a loop to calculate the
amount of interest, loan payment, and the size of the debt after each month. Print the results to the
screen in dollar format (2 values after the decimal point), and use the setw() function to set the width
of the numbers being printed so that the dollar and cents align correctly between the numbers. You
may also want to use the tab character. Include constants for the monthly interest rate, the monthly
payment, and any additional variables you need to solve the problem.
The output of your program should look like:
Month 1
Interest Payment: $ 15.00
Loan Payment: $ 35.00
Remaining Loan: $965.00
Month 2
Interest Payment: $ 14.47
Loan Payment: $ 35.52
Remaining Loan: $929.48
...
The loan will take 24 months to pay off.
The total interest payments are $197.83.

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