I'm really confused about how to do this assignment but it involves looping. I have to do it through #C programming and Visual Studio. Anything would help, thank you. Assignment 4For this assignment, you'll build an application that calculates the car loan amortization (month bymonth breakdown for the life of the loan). Prompt the user to enter in the amount of the car loan, theAPR, and the car payment per month including interest. The final output of your program should breakdown the monthly output for the user with the final line showing the total amount paid, total interestpaid, and the number of months it took to pay off the car.SampleIf the user enters a car loan amount of 20,000 with APR of 4.5 and monthly payment of 350, theoutput should look something like this. Note that formatting won't be graded very harshly here forspacing, but it's important to make sure you have the number values on each line as shown below andthat you are formatting money values as currency (ahem....ToString("C")).Calculations from month to month will use what's known as simple interest to determine the interestcharge each month. Here's a breakdown of how it's calculated and your task will be translating this all toC#:1. Determine the monthly interest rate by dividing the APR entered by the user by 12. Then divideby 100 since this is a percent4.5/12/100 = 0.003752. Calculate the interest for the current month using the current balance. Make sure you roundthis to 2 decimal places to prevent rounding errors from month to month (use Math. Round forthis since you actually want to round the number value instead of just format it for display):21000 * 0.00375= 78.753. Calculate the principle paid for the current month by subtracting the interest from step 2 fromthe payment350-78.75 = 271.254. Calculate the remaining balance by adding interest to the previous balance and subtracting thepayment221000 + 78.75 - 350= 20728.755. Repeat this until the balance gets down to 0Most likely, there will be a special case in the last month where the total payment leftdoesn't match the balance + new interest. In that case, you'll need to adjust the amountpaid as shown in this example6. Keep track of the total amount paid and total interest to print on the final line.Enter the total loan amount: 21000What is your interest rate: 4.5What is the monthly payment: 350Month Interest - Principle -12$78.75$77.73Balance$271.25 $20,728.75$272.27 $20,456.48 5152535455565758596061$22.92$21.70$327.08$328.30$329.53$330.77$332.01$333.25$334.50$335.76$337.02$338.28$339.55$340.82$342.1064$343.3865$344.6766$345.9667$347.2668$348.5669$34.50Total Paid: $23,834.63. Total Interest: $2,834.63. Months: 696263$20.47$19.23$17.99$5,786.22$5,457.92$5,128.39$4,797.62$4,465.61$4,132.36$3,797.86$3,462.10$3,125.08$2,786.80$2,447.25$2,106.43$1,764.33$1,420.95$1,076.28$16.75$15.50$14.24$12.98$11.72$10.45$9.18$7.90$6.62$5.33$4.04$2.74$1.44$0.13$730.32$383.06$34.50$0.00TakeawaysOnce you have this program running, try plugging in different numbers to see how making larger orsmaller payments changes the total amount of interest paid over the course of a loan.

For writing a C# program you can use Visual Studio or any online C# editor/compiler.

For this assignment, you'll build an application that calculates the car loan amortization (month by month breakdown for the life of the loan). Prompt the user to enter in the amount of the car loan, the APR, and the car payment per month including interest. The final output of your program should break down the monthly output for the user with the final line showing the total amount paid, total interest paid, and the number of months it took to pay off the car.

For this assignment, you'll build an application that calculates the car loan amortization (month by month breakdown for the life of the loan). Prompt the user to enter in the amount of the car loan, the APR, and the car payment per month including interest. The final output of your program should break down the monthly output for the user with the final line showing the total amount paid, total interest paid, and the number of months it took to pay off the car.

EBK JAVA PROGRAMMING

9th Edition

ISBN:9781337671385

Author:FARRELL

Publisher:FARRELL

Chapter7: Characters, Strings, And The Stringbuilder

Section: Chapter Questions

Problem 1CP

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