You are to write a program to generate a table of factors only used to compute monthly payments for money borrowed. The formula to calculate monthly payments is as follows where I and N are defined below. The factor times the mortgage will give you monthly payment.

Formula:

( I + 1 )N * I

Monthly Payment = --------------------- * Mortgage

( I + 1 )N - 1

You will NOT compute Monthly Payments in this program, just a table factor values. The above just shows how to use the values in the table to compute monthly payment.

The factor table will be defined based on the input supplied by the user. The input to your program will be the interest rate range (2 input numbers) an increment, and the range of years to generate for the factor table. Your program should prompt the user for these values. The output will be a table of these factors only. There will be multiple tables for a given input because the table will be too big to be one table, so we have to show multiple tables that continue the previous table. Have each table's print out 7 columns across ( or any number that makes the table look good on the screen/file) and as many rows as there are years.

Example Run: (Note: the underline values are what the user types as input to program.

Your format may vary from the one shown here.)

Note: Use the following values as test values for input to your program to turn in to me. Your program should handle any inputs.

Example:

Monthly Payment Factors used in Compute Monthly Payments

Enter Interest Rate Range and Increment 8.00 16.00 .25

Enter the Year Range 1 20

interest rates

Output of Pgm: 8.00 8.25 8.50 .... 9.25 9.50

1 xxx xxx xxx xxx xxx years 2 xxx xxx xxx xxx xxx

3 xxx xxx xxx xxx xxx

The table values should print 5 digits of accuracy

( I + 1 )N * I

Payment Factors = ---------------------

( I + 1 )N - 1

Where

I = 1/12th of the interest rate

N = Total months in term

Restrictions: You can NOT use an array. This is a formatting and nested loop problem (and maybe some thinking.) You will compute one factor at a time and then print that value in a nice table format with row and column labeling for each table as shown above. There will be multiple tables where each table is a continuation of the previous. The last table will be a partial table.