t/2354341/viewContent/46295972/View v1-chapter2-1 -. Question: 1) Implement this C program without the usage of arrays. Name this C program as loanCalc.c 2) Implement this C program using at least...

C program


Extracted text: t/2354341/viewContent/46295972/View v1-chapter2-1 -. Question: 1) Implement this C program without the usage of arrays. Name this C program as loanCalc.c 2) Implement this C program using at least three arravs to store the interest princinle


Extracted text: Bw1-chapter2-1-.. Appendix: 1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ ExcelArticles/amortization-calculation.html) The formula for calculating the payment amount is shown below. r(1+r)" A = B C (1 +r)" – 1 where A= payment Amount per period nonthly payment) B = initial Balance (loan amount) interest rate per period n= total number of payments or periods Example 1: What would the monthly payment be on a 5-year, $20,000 car loan with a nominal 7.5% annual interest rate? B = $20,000 r = 7.5% per year / 12 months = 0.625%= 0.00625 per period n = 5 years * 12 months = 60 total periods %D 0.00625 (1+0.00625 )60 A = 20000 * = 400.76 %3D (1+0.00625 )60–1 12