Write a menu driven program, which would compute compound interest and a monthly payment for a loan. The user will be given a choice to display the info on the screen or to a file.
Menu will be the following:
Enter (1) to calculate your loan monthly payment
Enter (2) to calculate your loan monthly payment & write to a file
Tips:Compound Interest Formula
A = P (1 + r / n) ^ nt
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
You can visit here for further assistance - http://www.calculatorsoup.com/calculators/financial/compound-interest-calculator.php
Bottom line, you will be displaying something like the following:
Borrower’s Name:
Borrower’s Address:
Borrower’s Phone:
Loan Amount:
Interest Rate (APR):
Fixed Monthly Payment:
Note – always with the option to display in a file or on the screen.
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