Question

C++. Need help

Amortization Write a function that produces an amortization schedule. This is a schedule of payments on a loan. For example suppose you borrow $100 at an interest tare of 12% and you make monthly payments of $2 per month. This will result in an interest of 1% = 0.01 per month. In the first month you will owe $100(.01) = $1 in 12months interest and pay $1 towards the principle. The next month you will only have borrowed $99 since you have already paid $1. This month you owe 599(01) $0.99 in interest and therefore vou will give $2 - $0.99- $1.01 towards the principle. And so on. See the sample schedule. You are to create a function given the loan amount, the yearly interest rate and the monthly payment amount as input Print several schedules. Try a loan amount of $40,000 an interest rate of 7% per year and a payment of $400 per month. Try other examples as well. You must divide the yearly interest rate by 12 to get the monthly interest rate. You are to produce a nicely formatted tabular output like below Principle 10.00 Interest: Payment: $2.00 12% Int. PrincipleEnding Payment Principle Paid Paid Payment Balance on 10.00 8.10 6.18 4.24 2.29 0.31 1.90 1.92 1.94 1.96 1.98 0.31 2.00 2.00 2.00 2.00 2.00 0.31 0.10 0.08 0.06 0.04 0.02 0.00 8.10 6.18 4.24 2.29 0.31 0.00 The total amount o f payment is $10.31 The total interest paid is $0.31 The algorithm: while principle> 0 Interest paid-principle * interest rate Principle paid payment - interest paid If (principle paid > principle) Principle paid principle; New principle- principle - principle paid Print the next line of the schedule Principle-new principle

Answer 1

#include<iostream>
#include<iomanip>

using namespace std;

void calculate(double pri, double rt, double pay)
{
   double monthrt = rt/12;
   monthrt = monthrt/100;
   double interest, priPaid, endPay, tInt=0.0;
  
   // setw is used to set width of the output, if setw is 15, then the string will occupy 15 spaces and the extra spaces are provided from right
  
   cout<<"\n\nPrinciple"<<setw(15)<<"Int. Paid"<<setw(15)<<"Principle Paid"<<setw(20)<<"Ending payment"<<setw(20)<<"Payment Balance\n";
  
   while(pri > 0)
   {
       interest = monthrt*pri;
       priPaid = pay - interest;
      
       if(priPaid > pri)
           priPaid = pri;
      
       if(pri >= pay)
           endPay = pay;
       else
           endPay = pri;
          
      
       cout<<setprecision(2)<<pri<<setw(20)<<setprecision(2)<<interest<<setw(15)<<setprecision(2)<<priPaid<<setw(20)<<setprecision(2)<<endPay<<setw(20)<<setprecision(2)<<pri-priPaid<<endl;
      
       tInt += interest;
      
       pri = pri - priPaid;
   }
   cout<<"\nTotal interest paid: "<<tInt;
}

int main()
{
   double principle, rate, payment;
  
   cout<<"Principle:\t$";
   cin>>principle;
  
   cout<<"Rate:\t\t";
   cin>>rate;
  
   cout<<"Payment:\t$";
   cin>>payment;
  
   calculate(principle, rate, payment);
  
   return 0;
}

CAUsersluser Documents\DS File 25apr.exe Principle Rate 12 10.00 $2 Payment: Principle Int. Paid Principle Paid Ending payment Payment Balance 0.1 0.081 0.062 0.042 0.023 0.0031 1.9 1.9 6.2 4.2 2.3 0.31 4.2 0.31 Total interest paid: 0.31 Process exited after 4.528 seconds with return ualue Press any key to continue .. . 0.31 0.31