Mortgage bond L, interest rate r =15%. The fixed payments P to pay off the loan over N years is given by P= rL(1+r/12)^12N/12(1+r/12)^12N -1) a)Write a code to compute and print P if N = 20 and the bond is $50,000 b) how P changes with N . Can you find a value for which the payment is less than $625? c) go back to N =20 and examine for different interest rate . Raising the interest rate increase the payment by $37?
Mortgage bond L, interest rate r =15%. The fixed payments P to pay off the loan over N years is given by P= rL(1+r/12)^12N/12(1+r/12)^12N -1) a)Write a code to compute and print P if N = 20 and the bond is $50,000 b) how P changes with N . Can you find a value for which the payment is less than $625? c) go back to N =20 and examine for different interest rate . Raising the interest rate increase the payment by $37?
C++ Programming: From Problem Analysis to Program Design
8th Edition
ISBN:9781337102087
Author:D. S. Malik
Publisher:D. S. Malik
Chapter15: Recursion
Section: Chapter Questions
Problem 20PE
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Question
Mortgage bond L, interest rate r =15%. The fixed payments P to pay off the loan over N years is given by
P= rL(1+r/12)^12N/12(1+r/12)^12N -1)
a)Write a code to compute and print P if N = 20 and the bond is $50,000
b) how P changes with N . Can you find a value for which the payment is less than $625?
c) go back to N =20 and examine for different interest rate . Raising the interest rate increase the payment by $37?
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