Thread: C++ Mtge Calculator

Hi,

I need to create a mortgage calculator program that asks the user to input the loan amount, mortgage term, & interest rate. I am to display the mtge payment amount. I am fine with all of this.

I am then to list the loan balance and interest paid for each pymt over the term of the loan. On longer-term loans, I am not to allow the list to scroll off the screen. I need to display a partial list and then allow the user to continue the list. This is where I am unsure of where to start. I began a for loop, but I don't know if this is in the right direction. I also can't find the formula for calculating the balance. Can anyone point me in the right direction to get started?

Code:

#include <iostream> 
#include <cmath> 
#include <iomanip> 

using namespace std; 





int main()
{
	float LOAN_AMOUNT=0; //loan amt
	float INT_RATE=0; //interest rate
	int TERM_YEARS=0; //loan term in years
	char quit; //determines if user wants to quit

	do
	{
                               //output message asking for loan amt
		cout<<"Input the total loan amount:\n";

		//input data
		cin>>LOAN_AMOUNT;

		//output message asking for interest rate
		cout<<"Input the annual interest rate:\n";

		//input data
		cin>>INT_RATE;

		//output message asking for term in years of loan
		cout<<"Input the length of the loan in years:\n";

		//input data
		cin>>TERM_YEARS;


		//local variables
		float RATE=INT_RATE/100; //rate in decimal format
		float monthlyInterest; //monthly interest rate
		int numberOfPayments; //total number of payments
		float payment; //monthly payment
		float balance; // loan balance

		//calculate values
		monthlyInterest=RATE/12; //monthly interest is rate/12
		numberOfPayments=TERM_YEARS*12; //# of pymts is length of loan*12
		payment=(LOAN_AMOUNT*
			pow(monthlyInterest + 1, numberOfPayments)
			* monthlyInterest)/(pow(monthlyInterest + 1, 
			numberOfPayments) - 1); //pow returns x raised to the power of y

		//output results
		cout<<fixed<<setprecision(2)//cout writes text to the screen
			<<"\n";
		cout<<"Your monthly payment for "
			<<TERM_YEARS <<" years\n";
		cout<<"for an Interest Rate of "
			<<INT_RATE <<"%\n"; 
		cout<<"on a Loan Amount of $"
			<<LOAN_AMOUNT <<":\n";
		cout<<"\n";
		cout<<"$" 
			<<payment
			<<" a month\n";
		cout<<"\n";
		cout<<"Payment Number\tLoan Balance\tInterest Paid\n";
		cout<<"--------------\t------------\t-------------\n";

		for (int paymentNumber=1; paymentNumber< ? ; ++paymentNumber)
		{
			cout<<paymentNumber<<'\n';
		
			
		}

		
		//user can continue in a loop or quit
			//output
			cout<<"\n";
			cout<<"Enter C to continue, Q to quit >";

			//user input
			cin>>quit;
			cout<<"\n";

		while((quit!='q') && (quit!='Q') &&

			(quit !='c') && (quit !='C'));
	}


		while((quit!='q') && (quit!='Q'));

		cout<<"Thanks for visiting\n";
		
}