Posted on 1997-03-19
Write a C program that will print an amortization schedule. Your program should be interactive by requesting from the user: amount to borrow, interest rate, # of months to repay. This data should be plugged into this formula to compute monthly payment: MP=P/((1-(1+I/12)to the -M)/(I/12))
Next you should print out this information followed by a header. Then your program should go into a loop to print the schedule. The limit of the loop will be the # of months to repay. Mounthly interest should be computed with this formula: MON INT=P* (I/12)
When your schedule is finished, print out the total amount of interest paid. Consider what to do if the last payment must be changed plus or minus to make the balance go to zero.
Document each line of code