3. Ms. Brown, a student, has to borrow $3000 from a bank to pay her tuition. Aft

Question

3. Ms. Brown, a student, has to borrow $3000 from a bank to pay her tuition. After consulting with the bank clerk she noticed that there is a 3% monthly interest rate on her loan and a payment of $80 must be made each month for the life of the loan. She asked you to write a program that calculates total amount of interest she will pay and also how many years and months will it take to pay off the loan.

Explanation / Answer

#include using namespace std; int main() { double money=3000; int month=0; double interest=0; while(money>960) { money=money-960; interest+=money*0.36; money=money+money*0.36; month=month+12; } if((int)money%960==0) month=month+(int)money/80; else month=month+(int)money/80+1; cout

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