Starting Out with C++ from Control Structures to Objects (9th Edition)
9th Edition
ISBN: 9780134498379
Author: Tony Gaddis
Publisher: PEARSON
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Chapter 3, Problem 19PC
Monthly Payments
The monthly payment on a loan may be calculated by the following formula.
Rate is the monthly interest rate, which is the annual interest rate divided by 12. (12 percent annual interest would be 1 percent monthly interest.) N is the number of payments, and L is the amount of the loan. Write a
| Loan Amount: | $10000.00 |
| Monthly Interest Rate: | 1% |
| Number of Payments: | 36 |
| Monthly Payment: | $332.14 |
| Amount Paid Back: | $11957.15 |
| Interest Paid: | $1957.15 |
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Chapter 3 Solutions
Starting Out with C++ from Control Structures to Objects (9th Edition)
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