A program to estimate monthly payments in a car loan considering the listed assumptions: If dollars are borrowed at interest compounded monthly to purchase a car with monthly payments for n years, then the monthly payment is given by the formula
Where a program that calculates the monthly payment after the user gives the amount of the loan, interest rate, and number of years. As an example, the figure below shows that monthly payments of $248.19 are required to pay off a 6-year loan of $15,500 at 4.8% interest.
(Hint: make the calculation for the interest “i” rate first. Then, do the monthly payment calculation paying close attention to the use of nested parentheses, if you use them.)
I’m using Visual basic and need assistance on the writing of the code to make this work. I have the template correctly laid out.
Thank you
