Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 5% to 8%, with an increment of
Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 5% to 8%, with an increment of
Chapter6: Looping
Section: Chapter Questions
Problem 14PE
Related questions
Question
Solve the Problem with C++
(Financial application: compare loans with various interest rates)
Write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 5% to 8%, with an increment of 1/8.
Sample Run
Loan Amount: 10000
Number of Years: 5
Interest Rate Monthly Payment Total Payment
5.000% 188.71 11322.74
5.125% 189.28 11357.13
5.250% 189.85 11391.59
...
7.875% 202.17 12129.97
8.000% 202.76 12165.83
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