Write a program that reads the amount of a monthly mortgage payment andthe amount still owed—the outstanding balance—and then displays theamount of the payment that goes to interest and the amount that goes toprincipal (i.e., the amount that goes to reducing the debt). Assume that theannual interest rate is 7.49 percent. Use a named constant for the interest rate.Note that payments are made monthly, so the interest is only one twelfth ofthe annual interest of 7.49 percent.

Write a program that reads the amount of a monthly mortgage payment andthe amount still owed—the outstanding balance—and then displays theamount of the payment that goes to interest and the amount that goes toprincipal (i.e., the amount that goes to reducing the debt). Assume that theannual interest rate is 7.49 percent. Use a named constant for the interest rate.Note that payments are made monthly, so the interest is only one twelfth ofthe annual interest of 7.49 percent.

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 21PE

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