Computers and Technology, 20.08.2021 04:30 aariyahjc9188
When you borrow money to buy a house, a car, or for some other purpose, then you typically repay it by making periodic payments. Suppose that the loan amount is L, r is the interest rate per year, m is the number of payments in a year, and the loan is for t years. Suppose that i = (r / m) and r is in decimal. Then the periodic payment is:
R=Li/1-(1+i)-^mt
You can also calculate the unpaid loan balance after making certain payments. For example, the unpaid balance after making k payments is:
R=Li/1-(1+i)-^mt
where R is the periodic payment. (Note that if the payments are monthly, then m = 12.)
Instructions:
Write a program that prompts the user to input the values of L, P, M, t, and k. The program then outputs the appropriate values. Your program must contain at least two functions, with appropriate parameters, to calculate the periodic payments and the unpaid balance after Programming
Answers: 2
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