The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is therefore the monthly payment minus the monthly interest. Write a program that lets the user enter the loan amount, number of years, and interest rate and displays the amortization schedule for the loan.

C++ Programming: From Problem Analysis to Program Design
8th Edition
ISBN:9781337102087
Author:D. S. Malik
Publisher:D. S. Malik
Chapter4: Control Structures I (selection)
Section: Chapter Questions
Problem 14PE: The short-term, 0-24 hours, parking fee, F, at an international airport is given by the following...
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The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed by multiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the month is therefore the monthly payment minus the monthly interest. Write a program that lets the user enter the loan amount, number of years, and interest rate and displays the amortization schedule for the loan.

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