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  3. choose one of the three following programs to do a

Choose one of the three following programs to do as your first program. You need to...

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Programming

Choose one of the three following programs to do as your firstprogram. You need to turn in a flowchart and program documentationwith the .cpp program (this can be done within the program) and acopy of your output.

The Program I chose is :

#19. Monthly Payments

The monthly payment on a loan may be calculated by the followingformula:

Payment= Rate × (1+Rate)N (1+Rate)N−1×L

Rate is the monthly interest rate, which is the annual interestrate divided by 12. (12 percent annual interest would be 1 percentmonthly interest.) N is the number of payments, and L is the amountof the loan. Write a program that asks for these values thendisplays a report similar to:

Loan Amount:$10000.00

Monthly Interest Rate: 1%

Number of Payments: 36

Monthly Payment:$ 332.14

Amount Paid Back:$ 11957.15

Interest Paid:$ 1957.15

Answer & Explanation Solved by verified expert
4.3 Ratings (894 Votes)
CODE FOR THE FOLLOWING PROGRAMinclude include for powinclude for setw and setprecisionusing namespace stdint main    See Answer
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