Car Loan If A dollars are borrowed at r % interest compounded monthly to purchase a...

Car Loan If A dollars are borrowed at r % interest compounded monthly to purchase a car with monthly payments for n years, then the monthly payment is given by the formula

Where

Write a program that calculates the monthly payment after the user gives the amount of the loan, interest rate, and number of years. Figure 3.52 shows that monthly payments of $234.23 are required to pay off a 5-year loan of $12,000 at 6.4 % interest.