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//----------------------------------------------------------- // Assignment 1 // // Written by Damien Butler // // Purpose: To calculate the amount of money owed on a loan // ----------------------------------------------------------- //-----------Preprocessor Section--------- #include <iostream> #include <iomanip> using namespace std; // ----------- Main Function ---------- int main( { // ---------- Variables and constants----------- const int loan amount = 500000' // Total loan amount owed interest rate = .2' // Interest rate on the loan number of payments = 36; // Number of monthly payments int loan amount paid, // amount paid on the loan float // ----------- Input Phases ----------- //Loan amounts cout <<"Enter loan amount:"; cin >> loan amount; cout <<"Enter annual interest rate:"; cin >> interest rate; cout <<"Enter number of monthly payments:"; cin >> amount of payments; // ----------- Processing ----------- payment = ((1+i/12)pow(n))/ ((1+i/12)pow(n)-1)) (500000)(i/12) Balance = payment (1-(1+i/12)pow(k,n)/(i/12) // ------Loan Summary----- Anuual Interest rate: Number of Monthly Paymnets: Loan Amount: $ Monthly payment: $ Balance halfway through: $ Total interest paid: $