HUK computer store offers credit plan at 10% down payment and an annual interest rate of 12%. You are required to write a C++ program to calculate and print the payment schedule for a loan to purchase a computer for the first month: a. Prompt the user for the purch
HUK computer store offers credit plan at 10% down payment and an annual interest rate of 12%. You are required to write a C++
a. Prompt the user for the purchase
b. Write a void function called display() to print the following headings:
-
- The month number
- The starting balance
- The interest to pay
- The principal to pay
- The monthly payment
- The ending balance for that month
c. Create a double function called creditcredit() that has the purchase price as its parameter.
The function must do the following (d to j):
d. Create two variables
-
- annual interest rate = 12%
- monthly rate = annual interest rate/12
e. The month number should begin with 1
f. Use a loop to display information for 12 months
g. Monthly payment is calculated at 5% of the purchase
h. The amount of interest for a month is calculated as the purchase price * month rate
i. The amount of principal for a month is equal to the monthly payment minus the interest owed.
j. The ending balance remaining after monthly payment is calculated as the starting balance
– the monthly payment.
k. Call the display function
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