A loan is amortized by printing its schedule of periodic payments along with the

Question

A loan is amortized by printing its schedule of periodic payments along with the remaining balance after each payment. Write a complete program that prints an amortization schedule for a given loan amount a at a given interest rate r and a given monthly payment p. Your program should input a, n, and p and then print a series of lines showing the payment number and the remaining balance after each payment. Make use of the setw() and be sure to use a iomanip fuction so that your payments are to the nearest hundredth of a cent, as in $ 159.23

Explanation / Answer

#include using namespace std; int main() { double monthlyPayment; double balance; double interestRate; cout.setf(ios::fixed); cout.setf(ios::showpoint); cout.precision(2); cout > balance; cout > interestRate; cout > monthlyPayment; while (interestRate >= 1) { interestRate = interestRate / 100; } balance = balance * (1 + interestRate / 12) - monthlyPayment; cout

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