Morteza Kashi
Mortgage , monthly payment, annual fee and interest calculation program
This programs prompts user to enter the amount of principal , annual fee, monthly payment of a loan and it outputs the following useful information about that loan:
1-The amount of the remained principal after each year
2-The time that the loan would be paid off in respect to the number of years and number of months
3-The total interest paid after you pay your loan off
The program is arranged to send the output to the "output.txt" in C drive .
Note: Please be careful to input a reasonable annual rate since you may end up to the fact that the loan will never
get paid off due to a high annual rate and a relatively low monthly payment!
The annual rate depends on many factors. To be safe, you may consider the annual rate between 4 to 6 percent
in Canadian banks..
If you choose the annual rate to be 5.5 percent, for example, you must enter 5.5 when you are executing the
program.
Please find my C++ code for this program by clicking on the following link:
Please click on the following link should you want to see the execution of the program. Save the file
"Mortgage.exe" on your desktop or somewhere else on your computer. Then, double click on it to see the
execution of the program.
Please contact me by clicking HERE and filling out the coming simple form, should you have any question about this program.
