Computer Science > Research Paper > DeVry University, DecaturCIS 170Cweek 8 project (All)

DeVry University, DecaturCIS 170Cweek 8 project

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•I am using C++ to build a loan calculator. I have already started the project, and just need a little more work to get it finished. The link to my file is below the program specifications. The spe ... cifications are as follows... •Loan Calculator • For this program you are going to create a loan calculator which uses a separate class to calculate a monthly loan payment (and schedule), given a principal amount (i.e., amount borrowed), annual interest rate, and a term (in months). The formula for this calculation is fairly straightforward: • __ __ •Monthly = |Rate + _______Rate________ | * Principal •Payment | ((1 + Rate) ^ Months) - 1 | • |__ __| •In words: Payment = (Rate + (Rate divided by ((1 plus Rate) to the power of the months) minus 1) all times the principal). Rate must be expressed as a per month value (i.e., annual rate in decimal form, divided by 12). •Your program should clearly indicate what form the input values should take, and it should verify that the values received are within expected parameters; in this case, it means all values are positive, and the interest rate is between zero and 0.25. In addition, the program should be able to ask for several scenarios – only terminating when a zero is entered for Principal. After each payment calculation, the operator should be given a chance to display a month-by-month amortization of the loan (see example below), and then asked if s/he wishes to save the loan scenario. All calculations for the Loan: monthly payment and all schedule values, are to be generated by a separate Loan class, which is instantiated after the required starting values have been entered. [Show More]

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