3.10
The credit plan at TidBit Computer Store species a 10% down payment and an annual interest
rate of 12%. Monthly payments are 5% of the listed purchase price, minus the down payment.
Write a program that takes the purchase price as input. The program should display a table,
with appropriate headers, of a payment schedule for the lifeme of the loan. Each row of the
table should contain the following items:
1. The month number (beginning with 1)
2. The current total balance owed
3. The interest owed for that month
4. The amount of principal owed for that month
5. The payment for that month
6. The balance remaining aer payment
The amount of interest for a month is equal to balance × rate / 12.
The amount of principal for a month is equal to the monthly payment minus the interest owed.
An example of the program input and output is shown below:
Enter the puchase price: 200
Month Starng Balance Interest to Pay Principal to Pay Payment
Ending Balance
1 180.00 1.80 7.20 9.00 172.80
2 172.80 1.73 7.27 9.00 165.53
3 165.53 1.66 7.34 9.00 158.18
4 158.18 1.58 7.42 9.00 150.77
5 150.77 1.51 7.49 9.00 143.27
6 143.27 1.43 7.57 9.00 135.71
7 135.71 1.36 7.64 9.00 128.06
8 128.06 1.28 7.72 9.00 120.34
9 120.34 1.20 7.80 9.00 112.55
10 112.55 1.13 7.87 9.00 104.67
11 104.67 1.05 7.95 9.00 96.72
12 96.72 0.97 8.03 9.00 88.69
13 88.69 0.89 8.11 9.00 80.57
14 80.57 0.81 8.19 9.00 72.38
15 72.38 0.72 8.28 9.00 64.10
16 64.10 0.64 8.36 9.00 55.74
17 55 74 0 56 8 44 9 00 47 30
18 47.30 0.47 8.53 9.00 38.77
19 38.77 0.39 8.61 9.00 30.16
20 30.16 0.30 8.70 9.00 21.46
21 21.46 0.21 8.79 9.00 12.68
