You have saved $500 to use as a down payment on acar. Before beginning your car shopping, you decided to write a program to help you figure out what your monthly payment will be, given the car’s purchase price, monthly interest rate, and the time period over which you will pay back the loan. The formula for calculating your payment is
payment=iP/(1-(1+i)^(-n) )
Where
P=principal (amount you borrow)
I=monthly interest rate (1/12 of the annual rate)
n=total number of payments
Your program should prompt the user for the purchase price, the down payment, the annual interest rate and total n

I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!

Looking for something else?

Not the answer you are looking for? Search for more explanations.