This is a C++ programming question  The code should be in C++ language  When you borrow money to buy a house, a car, or for some other purposes, then you typically repay it by making periodic payments. Suppose that the loan amount is L, r is the interest rate per year, m is the number of payments in a year, and the loan is for t years. Suppose that i = (r / m) and r is in decimal. Then the periodic payment is: You can also calculate the unpaid loan balance after making certain payments. For example, the unpaid balance after making k payments is: where R is the periodic payment. (Note that if the payments are monthly, then m = 12.) Write a program that prompts the user to input the values of L, r, m, t, and k. The program then outputs the appropriate values. Your program must contain at least two functions, with appropriate parameters, to calculate the periodic payments and the unpaid balance after certain payments. Make the program menu driven and use a loop so that the user can repeat the program for different values.

Programming with Microsoft Visual Basic 2017
8th Edition
ISBN:9781337102124
Author:Diane Zak
Publisher:Diane Zak
Chapter4: The Selection Structure
Section: Chapter Questions
Problem 5MQ2: What is the opposite of greater than?
icon
Related questions
Question

This is a C++ programming question 

The code should be in C++ language 

When you borrow money to buy a house, a car, or for some other purposes, then you typically repay it by making periodic payments. Suppose that the loan amount is L, r is the interest rate per year, m is the number of payments in a year, and the loan is for t years. Suppose that i = (r / m) and r is in decimal. Then the periodic payment is:


You can also calculate the unpaid loan balance after making certain payments.


For example, the unpaid balance after making k payments is:

where R is the periodic payment. (Note that if the payments are monthly, then m = 12.)

Write a program that prompts the user to input the values of L, r, m, t, and k. The program then outputs the appropriate values. Your program must contain at least two functions, with appropriate parameters, to calculate the periodic payments and the unpaid balance after certain payments. Make the program menu driven and use a loop so that the user can repeat the program for different values.

Li
R=-
1- (1+i)~™
You can also calculate the unpaid loan balance after making certain payments.
For example, the unpaid balance after making k payments is:
1– (1+ i)-(mt-k)]
L' = R
?
Transcribed Image Text:Li R=- 1- (1+i)~™ You can also calculate the unpaid loan balance after making certain payments. For example, the unpaid balance after making k payments is: 1– (1+ i)-(mt-k)] L' = R ?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Structure chart
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Programming with Microsoft Visual Basic 2017
Programming with Microsoft Visual Basic 2017
Computer Science
ISBN:
9781337102124
Author:
Diane Zak
Publisher:
Cengage Learning