Actually, I was wondering if soemone would review my code below. Is there a better way to output the information and make it look nicer? Did I follow the algorithm step by step? Thanks in advance for your input.
Problem:
The outstanding balance on Rhona's car is $5,000.00. Each month, she is required
to make a payment of $300.00, which includes both interest and principal repayment
of her car loan. The monthly interest is calculated as 0.09/12 of the outstanding
balance of the loan. After the interest is deducted, the remaining part of the
payment is used to pay off the loan. Write a C++ program that produces a table
indicating the beginning monthly balance, the interest payment, the prinicpal payment,
and the remaining loan balance after each payment is made.
Note: Follow this pre-assigned algorithm:
Output Header
Initialize Balance
Initialize payment
Loop
Calculate Interest Payment ( = 0.09/12 * Balance)
If Interest Payment + Balance < Payment
Calculate Principal ( = Balance)
Else
Calculate Principle ( = Payment - Interest Payment)
Calculate Ending Balance ( = Balance - Principle)
Output Data
Calculate New Balance ( = Ending Balance)
While Balance > 0
Code:
#include <iostream.h>
#include <iomanip.h>
int main()
{
float balance = 5000.0;
float rate = 0.09/12;
float payment = 159;
float interest, principal;
cout << " Beginning Interest Principal Ending Loan\n";
cout << " Balance Payment Payment Balance \n";
cout << " ---------------------------------------------------------\n";
cout << setiosflags(ios::fixed)
<< setiosflags(ios::showpoint)
<< setprecision(2);
while (balance < 0.05)
{cout << setw(11) << balance;
interest = rate * balance;
prinicpal = payment - interest;
balance = balance - principal;
cout << setw(10) << interest
<< setw(10) << principal
<< setw(10) << balance << endl;
}
return 0;
}
