Too many words to even bother.... even
Hi need help with this problem
Negotiating a consumer loan is not always straightforward. One form of loan is the discount installment loan, which works as follows. Suppose a loan has a face value of 1000 pesos, the interest rate is 15 percent, and the duration is 18 months. The interest is computed by multiplying the face value of 1000 pesos by 0.15 to yield 150 pesos. The figure is then multiplied by the loan period for 1.5 years to yield 225 pesos as the total interest owed. The amount is immediately deducted from the face value, leaving the consumer with only 775 pesos. Repayment is made in equal monthly installments based on the face value. Thus, the monthly loan payment will be 1000 pesos divided by 18, of 55.56 pesos. This method of calculation may not be too bad of the consumer needs 775 pesos, but the calculation is a bit more complicated if the consumer needs 1000 pesos. Write a program that will take three inputs: the amount the consumer needs to receive, the interest rate, and the duration of the loan in months. The program should then calculate the face value required in order for the consumer to receive the amount needed and should also calculate the monthly payment. The output should be displayed in an output file. It is up to you on how you will present your output.
Too many words to even bother.... even