Determine the amount of the last payments

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Reference no: EM131287907

Suppose that P dollars are borrowed from a bank with the understanding that A dollars will be repaid each month until the entire loan has been repaid. Part of the monthly payment will be interest calculated as i percent of the current unpaid balance. The remainder of the monthly payment will be applied towards reducing the unpaid balance. Write c program that will determine

1) the amount of interest paid each month

2) the amount of money applied towards the unpaid balance each month

3) the cumulative amount of interest that has been paid at the end of each month

4) the amount of the loan that is still unpaid at the end of each month

5) number of monthly payments required to repay the entire loan

6) the amount of the last payments

Reference no: EM131287907

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