Use a while loop . The loop stops when the balance is <=0. A partial sample outp
ID: 2997658 • Letter: U
Question
Use a while loop. The loop stops when the balance is <=0. A partial sample output is as follows:
Your name
Project 5 problem 1
Loan value = 10000
month interest balance
1 xxx.xx xxxxx.xx
2 xxx.xx xxxxx.xx
3 xxx.xx xxxxx.xx
Explanation / Answer
According to me this is more correct Formatted.
clc;
clear all;
amount=input('Enter Loan Amount');
interest_rate=input('Enter Monthly Interest Rate');
payment_month=input('Enter Monthly payment');
balance=amount;
month=0;
disp('Mr. Vikas Maheshwari');
fprintf('Amount is = %.2f',balance);
fprintf(' Month Interest Balance ');
while(balance>0)
interest=(balance*interest_rate/100);
balance=balance+interest;
balance=balance-payment_month;
month=month+1;
fprintf('%d $%.2f $%.2f ',month,interest,balance);
end
disp('---------------------------------------------------------');
fprintf('Total Monthly Payments of $%.2f are %d Last month Payment is $%.2f ',payment_month,month-1,payment_month+balance);
Output:-
Enter Loan Amount10000
Enter Monthly Interest Rate0.75
Enter Monthly payment300
Mr. Vikas Maheshwari
Amount is = 10000.00
Month Interest Balance
1 $75.00 $9775.00
2 $73.31 $9548.31
3 $71.61 $9319.92
4 $69.90 $9089.82
5 $68.17 $8858.00
6 $66.43 $8624.43
7 $64.68 $8389.12
8 $62.92 $8152.03
9 $61.14 $7913.17
10 $59.35 $7672.52
11 $57.54 $7430.07
12 $55.73 $7185.79
13 $53.89 $6939.69
14 $52.05 $6691.73
15 $50.19 $6441.92
16 $48.31 $6190.24
17 $46.43 $5936.66
18 $44.52 $5681.19
19 $42.61 $5423.80
20 $40.68 $5164.48
21 $38.73 $4903.21
22 $36.77 $4639.98
23 $34.80 $4374.78
24 $32.81 $4107.59
25 $30.81 $3838.40
26 $28.79 $3567.19
27 $26.75 $3293.94
28 $24.70 $3018.65
29 $22.64 $2741.29
30 $20.56 $2461.85
31 $18.46 $2180.31
32 $16.35 $1896.66
33 $14.22 $1610.89
34 $12.08 $1322.97
35 $9.92 $1032.89
36 $7.75 $740.64
37 $5.55 $446.19
38 $3.35 $149.54
39 $1.12 $-149.34
---------------------------------------------------------
Total Monthly Payments of $300.00 are 38
Last month Payment is $150.66
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