Note: Please do this in Python 3 The monthly payment for a given loan pays the principal and the interest. The monthly interest is computed bymultiplying the monthly interest rate and the balance (the remaining principal). The principal paid for the monthis therefore the monthly payment minus the monthly interest. Write a program that lets the user enter the loanamount, number of years, and interest rate, and then displays the amortization schedule for the loan.Here is a sample run:Loan Amount: 10000 JEnterNumber of Years: 1JEnterAnnual Interest Rate: 7 -EnterMonthly Payment: 865.26Total Payment: 10383.21Principal806.93811.64Payment#InterestBalance58.3353.629193.078381.4312...1110.00855.26860.27125.01860.250.01Note: The balance after the last payment may not be zero. If so, the last payment should be the normal monthlypayment plus the final balance.Hint:Monthly Payment1[1Loan Amount =interest rate(1+ interest rate)"]n= number of payment periods• The interest rate is the effective rate per month (i.e. annual interest rate divided by 12)Hint: The following statement will print the header of the tableprint(format("Payment#", "<15s"), format("Interest", "<15s"), format("Principal", "<15s"), format("Balance","<15s"))Hint: The following statement will print the contents of the table below the headerprint(format(i, "<15d"), format(interest, "<15.2f"), format(principal, "<15.2f"), format(balance, "<15.2f"))

public static void main(String[] strings) { Scanner input = new Scanner(System.in);…

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 then displays the amortization schedule for the loan. Here is a sample run: Loan Amount: 10000 Enter Number of Years: 1 JEnter Annual Interest Rate: 7 -Enter Monthly Payment: 865.26 Total Payment: 10383.21 Balance Payment# 1 2 Interest 58.33 53.62 Principal 806.93 811.64 9193.07 8381.43 855.26 860.25 11 10.00 860.27 12 5.01 0.01 Note: The balance after the last payment may not be zero. If so, the last payment should be the normal monthly payment plus the final balance. Hint: Monthly Payment 1 [1- Loan Amount = interest rate (1+ interest rate)"] n= number of payment periods • The interest rate is the effective rate per month (i.e. annual interest rate divided by 12)

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 then displays the amortization schedule for the loan. Here is a sample run: Loan Amount: 10000 Enter Number of Years: 1 JEnter Annual Interest Rate: 7 -Enter Monthly Payment: 865.26 Total Payment: 10383.21 Balance Payment# 1 2 Interest 58.33 53.62 Principal 806.93 811.64 9193.07 8381.43 855.26 860.25 11 10.00 860.27 12 5.01 0.01 Note: The balance after the last payment may not be zero. If so, the last payment should be the normal monthly payment plus the final balance. Hint: Monthly Payment 1 [1- Loan Amount = interest rate (1+ interest rate)"] n= number of payment periods • The interest rate is the effective rate per month (i.e. annual interest rate divided by 12)

C++ Programming: From Problem Analysis to Program Design

8th Edition

ISBN:9781337102087

Author:D. S. Malik

Publisher:D. S. Malik

Chapter5: Control Structures Ii (repetition)

Section: Chapter Questions

Problem 30PE

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