Mortgage bond L, interest rate r =15%. The fixed payments P to pay off the loan over N years is given by P= rL(1+r/12)^12N/12(1+r/12)^12N -1) a)Write a code to compute and print P if N = 20 and the bond is $50,000 b) how P changes with N . Can you find a value for which the payment is less than $625? c) go back to N =20 and examine for different interest rate . Raising the interest rate increase the payment by $37?

Mortgage bond L, interest rate r =15%. The fixed payments P to pay off the loan over N years is given by P= rL(1+r/12)^12N/12(1+r/12)^12N -1) a)Write a code to compute and print P if N = 20 and the bond is $50,000 b) how P changes with N . Can you find a value for which the payment is less than $625? c) go back to N =20 and examine for different interest rate . Raising the interest rate increase the payment by $37?

C++ Programming: From Problem Analysis to Program Design

8th Edition

ISBN:9781337102087

Author:D. S. Malik

Publisher:D. S. Malik

Chapter15: Recursion

Section: Chapter Questions

Problem 20PE

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