Question: Write a C++ program that calculates and displays the mortgage payment amount, given by the user the amount of the mortgage, the term of the
Write a C++ program that calculates and displays the mortgage payment amount, given by the user the amount of the mortgage, the term of the mortgage, and the interest rate of the mortgage (prompt the user to get these values). Calculate the monthly payment for the sample data. Ioan amounts $200,000, the term-30 years, and the interest rate-4.5%. Insert comments in the program to document the program. To use pow (power function) you need to include the #includecmath Here is the guide for the Mortgage Calculator program; you can use the following formula: principal xrate monthly Payment 1-(rate+1) or monthly Payment principal rate/ (1,0- pow(rate + 1, term) rate- rate /1200.0; I/ you can enter the rate like 7 term- term 12; //you can enter the year like 30, or 15 monthlyPayment- principal rate /(1.0-pow(rate+1, -term)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
