A loan has the following parameters: an initial balance, an interest rate and a length to pay the loan back. Please write C code to calculate an amortization schedule for specified loan terms. The formula for calculating a monthly payment is: M= P*(J + ( J/((I+J)^N*T-1))) Where: P is the initial amount of the loan R is the annual interest rate N is the number of compounding periods in a year (e.g., 12 for monthly) J is the Do not use chatgpt

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Declaring and Defining the function

A set of statements, which performs a particular task is called a function. The program gains modularity by using function. The application is quite easy to understand, read, and edit when they are created with functions. The developer/programmer creates a function and uses main() to call the function. Once the function gets executed, the control is transferred to the main program.