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Write a program to analyze a car loan

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Question

Car Loan Write a program to analyze a car loan. The user should enter the amount of the loan, the annual percentage rate of interest, and the duration of the loan in months. After each piece of data is entered, the data should be checked to make sure it is reasonable.

If bad data has been supplied, the user should be so advised. Otherwise, the monthly payment and the total amount of interest paid should be displayed. The formula for the monthly payment is

monthly  payment= p·r / 1-(1+r)-n,

where p is the amount of the loan, r is the monthly interest rate (annual rate divided by 12) given as a number between 0 (for 0%) and 100 (for 100%), and n is the duration of the loan in months. The formula for the total interest paid is

total interest = n⋅[monthly payment]-p.

Reference no: EM132355748

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