Financial Application (Comparing loans with various interest rates)

Jun 27, 2015 at 5:09am
I have some problem with below, I hope that i can get some hint
Write a program that lets the user enter the loan amount and loan period

Last edited on Jun 27, 2015 at 7:55am
Jun 27, 2015 at 6:11am
So what is your question? Where are you stuck?
Also try and use code tags http://www.cplusplus.com/articles/jEywvCM9/
when posting, more people will be willing to help!
Jun 27, 2015 at 7:58am
Made some changes so at least you don't have infinite loops running.

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#include <iostream>
#include <cmath>
#include<iomanip>
using namespace std;

int main()
{
    double loanAmount;
    int numberOfYears;
    double annualInterestRate = 5;
    double monthlyInterestRate;
    double monthlyPayment;
    double totalPayment;

    // Enter loan amount
    cout << "Loan Amount: ";
    cin >> loanAmount;

    // Enter number of years
    cout << "Number of Years: ";
    cin >> numberOfYears;

    // Obtain monthly interest rate
    monthlyInterestRate = annualInterestRate / 12;

    for (double i = 5; i <= 8; i += 0.125)  // i has to be a float
    {
        for(double j = 1; j <= numberOfYears;j++)
        {
            monthlyPayment = monthlyPayment = loanAmount * monthlyInterestRate / (1 - 1 / pow(1 + monthlyInterestRate, numberOfYears * 12));
            cout << setw(3) << j;
            cout << "\n";
        }
    }

    for (double x = numberOfYears; x < totalPayment; x++ )
    {
        totalPayment = monthlyPayment * numberOfYears * 12;
        cout << setw(3) << x;
        cout << "\n";
    }

    // Display results
    cout << "Interest Rate " << annualInterestRate << "% " << "\nMonthly Payment " << monthlyPayment << "\nTotal Payment " << totalPayment << endl;

    return 0;
}

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