Sunday, September 13, 2015

Lab4 - Loan payment, see question 30 on page 370 show payment No. , interest, principal, unpaid balance, total interest to date (do not worry about the output format too much, e.g. how to change 1.234 to 1.23)

void setup(){
  float loan_amount=5000;
  float interestRate=12;
  int months=12;
  cal_loan(5000,12,12);
}

void cal_loan(float loan_amount,float interestRate,int months){
  float balance;
  int n=1;
  int term=1;
  float monthlyPayment;
  float effectiveInterest;
  float interest;
  float principal;
  float total_interest=0;
  //Calculate your effective interest J.
  effectiveInterest=interestRate/(100*12);
  //Calculate (1+J)-N
  monthlyPayment=loan_amount*(effectiveInterest/(1-pow(1+effectiveInterest,-months)));
  //Display
  balance=loan_amount;
  println("Loan Amount $ = "+loan_amount);
  println("Loan Term = "+months+" month(s)");
  println("Interest Rate = "+interestRate+"%");
  println("Payment per months = "+monthlyPayment);
  println("Payment No. |  Interset  |  Principal  |  Unpaid Balance  |  Total Interest to Date");
  while(term<=months){
   interest = effectiveInterest*balance;
   principal=monthlyPayment-interest;
   balance=balance-principal;
   total_interest=total_interest+interest;
   println("     "+term+"        $"+interest+"        $"+principal+"    $"+balance+"           $"+total_interest);
   term=term+1;
  }
}





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