Question

For this assignment please

complete

the

following exercise. Submit

your completed

source code

(*.cpp) and screenshots

demonstrating you successfully ran the program by the due date.

========

Mortgage Class

Design a class

that will represent a

home mortgage. The constructor should accept the loan

amount, interest

rate,

and

number of years

to pay off the loan.

The class

should have member

functions for returning the monthly

payment amount and

the

total

amount paid to the

bank at the end

of the loan period.

The monthly

payment with interest

compounded

monthly can be calculated as follows:

where



Payment = the monthly payment



Loan = the dollar amount of the loan



Rate

= the annual interest rate



Years =

the number of years

of the

loan

Utilize the class in a complete program. Run the

program at least

three times with

different

values to

demonstrate it works correctly.

Input Validation: Do not accept negative numbers for any of

the

loan values.

values to

demonstrate it works correctly.

Input Validation: Do not accept negative numbers for any of

the

loan values.

Answer 1

/* *program : for calculating the mortgage loan. program uses constructor that accepts the loan amount, rate and years and the function to calculate the monthly payment, amount to be paid to bank at the end */

#include <cstdlib>

# include<math.h>

#include<iostream>

using namespace std;

/*

* Mortage calculator

*/

class Mortage{

public :

double payment, loan, rate, total, final_amount;

int years, term;

//parameterized constructor for accepting loan amount, rate, no.of years

Mortage(double x, double y, int z){

loan = x;

rate = y;

years = z;

}

/* month_pay() member function to calculate the compound interest of the

loan to be paid monthly*/

double month_pay(){

term = years*12;

total = ((loan * rate) / (1 - pow(1+rate,-term)));

return total;

}

/*total_amount() calculate the final amount to be paid for the bank*/

double total_amount(){

int term = years*12;

final_amount = term * month_pay();

return final_amount;

}

};

int main(int argc, char** argv) {

double l,r;

int yrs,choice;

// accept the loan amount, rate, no.of years

cout<<"\nEnter the loan Amount:";

cin>>l;

  

cout<<"\nEnter the Rate :";

cin>>r;

cout<<"\nEnter the No. of Years :";

cin>>yrs;

// perform the function if its positive values

if((l>0)and(r>-1)and(yrs>0)){

r = r/100;

Mortage m1(l,r,yrs);

cout<<"\nmonthly amount to be paid : " <<m1.month_pay();

cout<< "\nfinal amount to be paid to bank : "<<m1.total_amount();

}

//if the value is negative display the comment

else

{

cout<<"For calculating the loan amount, enter positive values";

}

return 0;

}

sample output:

Enter the loan Amount:50000

Enter the Rate :4.5

Enter the No. of Years :8

monthly amount to be paid : 2283.37
final amount to be paid to bank : 219204

output 2:

Enter the loan Amount:40000

Enter the Rate :-5

Enter the No. of Years :6
For calculating the loan amount, enter positive values