Determine the monthly payment for a loan

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Reference no: EM13210075

Write a program to determine the monthly payment for a loan where the annual interest rate, the amount of the loan, and the number of years are entered as input. The formula for computing the monthly payment is given as follows: P = L* [r(1 + r)n / ((1 + r)n - 1) ] where P = monthly payment L = amount of the loan r = monthly interest rate n = number of payments.

Reference no: EM13210075

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