Line
40
allows the length
of
the loan (in years)
to
be entered and stored
in
variable T.
Line
50 computes the number
of
payment periods (months) of the loan and stores the
value in variable
N.
Line 60 computes the interest rate per month and stores it in variable
1.
Lines 70 • 80 compute the monthly payment. The computation
was
done in two lines
rather than one,
to
avoid having a long, complicated expression in a single line.
Recall that the equals symbol
(=)
means
to
assign the value computed on the right
side
to
the variable on the left side. In line 80 the value
of
AlMP
is computed and
then stored in MP.
Line
90 prints the amount of the monthly payment.
Run the program several times with your own data. Have you ever wondered what
effect a change
in
the"
interest rate would have on your mortgage payment? Just run
the program and vary the interest rate while keeping the other variables constant.
Experiment
#9
Calculation
of
Total Amount
and
Loan Balance
In addition
to
calculating the monthly mortgage payment,
as
in
the last experiment,
you might wish
to
compute the total amount you have
to
pay. This
is
done
by
multiplying the number
of
pay periods N by the monthly payment MP. Type in lines
100
and 110
as
follows:
100
TA
= N *
MP
110
PRINT
"TOTAL
AMOUNT
PAID
IS
$";
TA
Another calculation that can be made is the determination
of
the loan balance or
outstanding principal, after a certain number
of
payments. Enter the following lines:
120
INPUT
"CURRENT
YEAR
OF
LOAN"; Y
130 M = 12 * Y
140
B = (1 - (1 +
l)h(M-N»
/ I
150 B =
MP
* B
160 PRINT "PRINCIPAL
REMAINING
IS
$";
B
Here
is
a listing of the the complete program:
10
INPUT
"INTEREST
RATE
(0
-
100)
" ;
R
20
R
=
R / 100
30
INPUT
"AMOUNT
OF
LOAN";
A
40
INPUT"NUMBER
OF
YEARS";
T
50 N
=
12 * T
60
I
=
R / 12
70
MP
=
( 1
-
( 1
+
I)h(_N))
/ I
80
MP
=
A /
MP
80 PRINT
"MONTHLY
PAYMENT
IS
$"
;
MP
100
TA
= N *
MP
110 PRINT
"TOTAL
AMOUNT
PAID
IS
$";
TA
120
INPUT
"CURRENT
YEAR
OF
LOAN";
Y
130
M
= 12 * Y
42
To Next Page
Loading...
