Write a program that helps the user to consider a range of interest rates for a mortgage over 20, 25,

and 30 years. Prompt the user to enter the amount of the loan and a minimum and maximum

interest rate (in whole percentages). Then write a text file containing a table of the form;

Loan Amount: $50,000.00

Interest

Rate Duration Monthly Total

Payment

Payment

(years)

10.00 20

10.00 25

10.00 30

10.00 20

The output file produced should contain payment information on a particular loan amount for interest

rates from the minimum rate to the maximum rate in increment of 0.25%. The loan durations should

be 20, 25,and 30 years. Output the monthly payment and total payment values rounded to two

decimal places. You may neglect the fact that because the monthly payment must be rounded, the

final payment will be slightly different. The formula for calculating monthly payment is given below:

payment=ip/1-(1+i)^-n

where i is interest, P is loan amount, n is number of installmen

Documents Required for submission:

1. Word Document with sample run of program (Terminal Screen Shot - change the

background color to white, and font color to black) and the explanation on the source code for every

important lines.

2. Source code (Notepad) – a complete working program.

Interest Duration Monthly Total

Rate (years) Payment Payment

*Edited 6 Years Ago by Nick Evan*: n/a