I'm just a beginner (student). Now still undergo C programming class to upgrade my knowledge in C. I was asked to complete a simple program to get the output of C program in the text file as shown below. This program is to help user to consider a range of interest rates for bank loan over 10,20,30 years. Prior to get this output the user is asked to enter the amount loan and a minimum & maximum interest rate. The output has to be in the form of text file as below.
Eg. Loan Amount : xxxxxx
Interest Rate Duration Monthly Payment Total Payment
xxxxx xxxx xxxxxxxx xxxxxxxx
I'm thinking to use the following formula for calculating the monthly payment & transfer the result to "Monthly payment column" above. However, I have no idea what to do first & how to go about to get this result printed in the text file. Can I use this math equation---> payment = i*p/1-pow(1+i,-n).
Anyone has a similar program that I can use or study in order for me to get start. Your assistance is highly appreciated.
( Note : Formula for mthly payment = ip/1-(1+i)-n ).