Requirement
Write a program to calculate and display the loan for buying a car.
- Create a class call Loan.
Data fields in the Loan class include:- Annual Interest Rate (Float)
- Number of years of loan (Float)
- Loan Amount (Float)
- Borrower’s Name (string)
- Create the initializer or constructor for the class with the above data fields. Make the data fields private.
- Create accessors (getter) for all the data fields.
- Create mutators (setters) for all the data fields.
- Create a class method ‐ getMonthlyPayment where monthlyPayment = loanAmount * monthlyInterestRate / (1 - (1 / (1 + monthlyInterestRate) ** (numberOfYears * 12)))
note: that the monthly interest rate = annualinterest / 1200 - Create a class method ‐ getTotalPayment where totalPayment = getMonthlyPayment() * \ numberOfYears * 12
- Write a test program (main function) to allow the user to enter the following:
- Annual Interest Rate
- Number of Years of Loan
- Loan Amount
- Borrower’s Name
Allow the user to change the loan amount and reprint the new loan information.
The output should look like this:
>>>
Enter yearly interest rate, for example, 7.25: 2.5
Enter number of years as an integer: 5
Enter loan amount, for example, 120000.95: 1000.00
Enter a borrower's name: John Jones
The loan is for John Jones
The monthly payment is 17.75
The total payment is 1064.84
Do you want to change the loan amount? Y for yes or enter to quit y
Enter new loan amount 5000
The loan is for John Jones
The monthly payment is 88.74
The total payment is 5324.21
>>>