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  1. //Micah Krosby						CS1A					 Ch. 3, P. 146, # 17
  2. /*******************************************************************************
  3.  * CALCULATE INTEREST PAID ON LOAN
  4.  * _____________________________________________________________________________
  5.  * This program calculates the amount of interest paid on a loan with a monthly 
  6.  * interest rate and a number of monthly payments.
  7.  * 
  8.  * FORMULAE-
  9.  * Payment = loan * (rate * (1 + rate)^times paid/((1 + rate)^times paid - 1))
  10.  * Total paid = payment * times paid
  11.  * Interest paid = total paid - loan
  12.  * _____________________________________________________________________________
  13.  * 
  14.  * INPUTS-
  15.  *	loan			:	Loan given to customer
  16.  *	numPay			:	Number of payments made by customer
  17.  *	rate			:	Interest rate of loan
  18.  * OUTPUTS-
  19.  *	payment			:	Monthly payment size
  20.  *	totalPaid		:	Total payment size
  21.  *	interestPaid	:	Total interest earned on loan
  22. *******************************************************************************/
  23.  
  24. #include <iostream>
  25. #include <cmath>
  26. #include <iomanip>
  27. using namespace std;
  28.  
  29. //monthly payment formula
  30. float monthlyPayment(float rate, unsigned short int numPay, float loan) {
  31. 	return loan * rate * pow((1.0+rate), numPay) / (pow((1.0+rate), numPay)-1);
  32. }
  33. int main() {
  34. 	float loan;						//INPUT- Loan given
  35. 	unsigned short int numPay;		//INPUT- Number of payments
  36. 	float rate;						//INPUT- Interest rate monthly
  37. 	float payment;					//OUTPUT- Monthly payments
  38. 	float totalPaid;				//OUTPUT- Total paid
  39. 	float interestPaid;				//OUTPUT- Total interest paid on loan
  40.  
  41. 	//initialize input variables
  42. 	cout << "Loan size?" << endl;
  43. 	cin >> loan;
  44. 	cout << "Monthly interest rate?" << endl;
  45. 	cin >> rate;
  46. 	cout << "Number of payments?" << endl;
  47. 	cin >> numPay;
  48. 	cout << endl;
  49.  
  50. 	//initialize output variables
  51. 	payment = monthlyPayment(rate, numPay, loan);
  52. 	totalPaid = payment * numPay;
  53. 	interestPaid = totalPaid - loan;
  54.  
  55. 	//output
  56. 	cout << setw(30) << left << "Loan Amount:" << setw(10) << "$" 
  57. 	<< setw(10) << right << fixed << setprecision(2) << loan << endl;
  58. 	cout << setw(30) << left << "Monthly Interest Rate:" << setw(19) 
  59. 	<< right << rate * 100 << "%" << endl;
  60. 	cout << setw(30) << left << "Number of Payments:" << setw(20) 
  61. 	<< right << numPay << endl;
  62. 	cout << setw(30) << left << "Monthly Payments:" << setw(10) << "$" 
  63. 	<< setw(10) << right << fixed << setprecision(2) << payment << endl;
  64. 	cout << setw(30) << left << "Amount Paid:" << setw(10) << "$" 
  65. 	<< setw(10) << right << totalPaid << endl;
  66. 	cout << setw(30) << left << "Interest Paid:" << setw(10) << "$" 
  67. 	<< setw(10) <<right << interestPaid << endl;
  68. 	return 0;
  69. }
  70.  
Success #stdin #stdout 0.01s 5280KB
comments (?)
stdin
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10000
0.01
36
stdout
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Loan size?
Monthly interest rate?
Number of payments?

Loan Amount:                  $           10000.00
Monthly Interest Rate:                       1.00%
Number of Payments:                             36
Monthly Payments:             $             332.14
Amount Paid:                  $           11957.15
Interest Paid:                $            1957.15
https://ideone.com/MBEqqL
homework 3.17
language:
C++ (gcc 8.3)
created:
122 days ago
visibility:
public

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