Thread: Please do my bank interest calculation homework

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 repaid balance. The remainder of the monthly payment will be applied towards reducing the unpaid balance. Write a C program that will determine the following
• The amount of interest paid every month
• The amount of money applied towards unpaid balance each month
• The cumulative amount of interest that has been paid @ the end of each month
• The amount of loan that is still unpaid @ the end of each month
• The number of amount payments required to pay the entire loan.

Test your program using P=$40,000
A=$2000
I=%per month

Before you code anything, make sure you have your math sorted out. Remember that percent *MEANS* hundreths, and you should be good to start out.

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