write a program in c++ that will compute a monthly payment. This assignment is broken up into 2 parts. You are to have, at least, 1 function ( other than main() ) in both programs. The function(s) must be referenced by the main 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 exactly like 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