Project 1# You have saved $500 to use as a down payment on a car. Before beginni

Question

Project 1#
You have saved $500 to use as a down payment on a car. Before beginning your car shopping, you decide to write a program to help you figure out what your monthly payment will be, given the car’s purchase price, the monthly interest rate, and the time period over which you will pay back the loan. The formula for calculating your payment is

Payment = ip / 1 – (1 + i) -n

Where
P = Principal (The amount you borrow)
i = monthly interest rate (1/2 of the annual rate)
n = total number of payments
Your program should prompt the user for the purchase price, the down payment, the annual interest rate and the total number of payments (usually 12, 24 or 36). It should then display the amount borrowed and the monthly payment including a dollar sign and two decimal places.

Explanation / Answer

please rate - thanks your formula wasn't clear, so I used one I found for amortization of a loan. that can easily be fixed. you didn't specify the language. here is C , C++, and Java, hopefully it's one of those
C++ C Java

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