Loan negotiation is usually not a straightforward ta, C/C++ Programming

Assignment Help:
Ask question #Minimum 1Loan negotiation is usually not a straightforward task. A type of loan is the discount installment loan. This type of loan has the following characteristics. Supposing a loan has face value of GHC 1000, interest is 14% and the duration is 24 months. The interest is compounded by multiplying the face value by 0.14 to produce GHC 140. The figure (140) is then multiplied by the loan period of 2 years to give GHC 280 as the total interest owed. This amount is immediately deducted from the face value leaving the customer with only GHC 720. Repayment is then made in monthly equal installments based on the face value. This means that the monthly payment will be GHC 1000 divided by 24 which is approximately 41.67. This method of calculating the monthly repayment is not too bad if the consumer needs only GHC 720 but the calculation is a bit complicated if the consumer needs GHC 1000
a) Write a program that takes three inputs (amount customer needs, interest rate and duration for repaying the loan) and calculates the face value that is required to generate the take home (7 marks)
b) The program should compute the monthly repayment (6 marks)
c) The program should allow the calculation to be repeated as many times as the customer wishes and critically explain the logic behind the code (7 marks)

00 words accepted#

Related Discussions:- Loan negotiation is usually not a straightforward ta

Define some features of register storage class in c program, Define some fe...

Define some features of register storage class in c program? The feature of variable defined to be of register type all as follows: Storage - CPU registers Default initia

Why php is sometimes called as embedded scripting language, Why PHP is some...

Why PHP is sometimes called as embedded scripting language? PHP is a high level language that is used to allow users to write and understand it in human readable form and also

Inheritance, example of program to ad two numbers

example of program to ad two numbers

C program for sorting of long word with one string, C Program for SORTING O...

C Program for SORTING OF LONG WORD WITH ONE STRING #include stdio.h> #include conio.h> #include string.h> void main() {           char n[50],c[25][25];

Program to calculate gross pay and tax payable, Study the following table u...

Study the following table used to compute the tax payable by employees in certain organization   Gross Pay                                  Fewer than Three             Three

Arrays and pointers, i have an array of structs, and am trying to make a po...

i have an array of structs, and am trying to make a pointer that can point to a certain struct within the array

C++, Write a program to find the area under the curve y = f(x) between x = ...

Write a program to find the area under the curve y = f(x) between x = a and x = b, integrate y = f(x) between the limits of a and b. The area under a curve between two points can b

Static optimality theorem, Question 1 Describe the following with respect ...

Question 1 Describe the following with respect to pointers in C language- Pointers and Arrays Usage of Pointers in functions Write programs in C to demonstrate the

Define passing by reference?, A: Method of passing arguments to a function ...

A: Method of passing arguments to a function that takes parameter of type reference.  for instance: void swap( int & x, int & y ) { int temp = x; x =

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd