C programming Expert Q&ADone2) Implement this C program using at least three arrays to store the interest, principleand balance for each payment respectively. For example, interest[0] stores the paidinterest in the first payment. Name this C program as loanCalcArr.c.3) Implement this C program using at least three arrays to store the interest, principleand balance after each payment respectively. For example, interest[0] stores the paidinterest in the first payment. Besides, please use three pointers to visit the element inthe three arrays separately. Name this C program as loanCalcPtr.c.4) Implement this C program by defining a structure for each payment. The structureshould have at least three members for the interest, principle and balance separately.And store all the payments in a structure array (the max size of which could be 100).Name this C program as loanCalcStruct.cIn this C program, the input and output are defined as following:Input: amount of loan, interest rate per year and number of payments• Output: a table of amortization schedule (also called payment schedule) containingpayment number, monthly payment, principal paid, interest paid and new balance ateach row.The attached screenshot below shows a sample of the output.Yuans-MacBook-Pro:PC yuanlong$ ./loanCalcEnter amount of loan : $ 500Enter Interest rate per year : % 7.5Enter number of payments : 5Montly payment should be 101.88F======== AMORTIZATION SCHEDULE======Principal$98.76$99.38$100.00$100.62$101.25%3== ======Рауment$101.88$101.88$101.88$101.88$101.88Interest$3.12$2.51$1.89$1.26s0.63Balance$401.24$301.87$201.87$101.25$0.001415Note:• monthly payments are equal. The way to calculate monthly payment and other valuesfor each row are provided in Appendix.The C program can be implemented within 80 lines of code. If your program is longerthan 80 lines, you may need to think about how to simplify your program.Hint: To print out a percentage %, please use %%. You may need to use C math library tocalculate the powers of numbers. To compile a C program using math library, you must addoption Im at the end of the cc command to link math library. E.g. gcc -o test test.c -Im1. Calculating the monthly payment.(Note: The following instruction is fromhttp://www.vertex42.com/ExcelArticles/amortization-calculation.html )The formula for calculating the payment amount is shown below.r(1 +r)"A = B(1+r)" – 1whereA = payment Amount per period (monthly payment)B = initial Balance (loan amount)• r= interest rate per periodn = total number of payments or periodsExample 1: What would the monthly payment be on a 5-year, $20,000 car loan with anominal 7.5% annual interest rate?B = $20,000r= 7.5% per year / 12 months = 0.625%= 0.00625 per periodn = 5 years 12 months = 60 total periodsA = 20000 .000625 (1+0.00625 )= 400,76(1+0.00625 40-12. Calculating the Principal(P), Interest(INT) and Balance(B) for eachpayment.The formula is shown below.INT(n) = B(n – 1) •r;P(n) = A - INT (n);B(n) = B(n – 1) - P(n);Where INT (n), P(n) and B(n) are the paid principal, paid interest and new balance for thenth payment. And B(0) means the loan amount.

Answer: C Source Code: 2. #include <stdio.h>#include <stdlib.h>#include <math.h>…

2) Implement this C program using at least three arrays to store the interest, principle and balance for each payment respectively. For example, interest[0] stores the paid interest in the first payment. Name this C program as loanCalcArr.c. 3) Implement this C program using at least three arrays to store the interest, principle and balance after each payment respectively. For example, interest[0] stores the paid interest in the first payment. Besides, please use three pointers to visit the element in the three arrays separately. Name this C program as loanCalcPtr.c. 4) Implement this C program by defining a structure for each payment. The structure should have at least three members for the interest, principle and balance separately. And store all the payments in a structure array (the max size of which could be 100). Name this C program as loanCalcStruct.c In this C program, the input and output are defined as following: • Input: amount of loan, interest rate per year and number of payments • Output: a table of amortization schedule (also called payment schedule) containing payment number, monthly payment, principal paid, interest paid and new balance at each row. The attached screenshot below shows a sample of the output. Yuans-MacBook-Pro:PC yuanlongs ./loanCalc Enter amount of loan : $ 500 Enter Interest rate per year : 7.5 Enter number of payments : 5 Mont ly payment should be 101.88 Payment $101.88 $101.88 $101.88 $101.88 $101.88 AMORTIZATION SCHEDULE= Principal $98.76 $99.38 $100.00 $100.62 $101.25 Interest $3.12 $2.51 $1.89 $1.26 $0.63 Balance $401.24 $301.87 $201.87 $101.25 $0.00 Note: • monthly payments are equal. The way to calculate monthly payment and other values for each row are provided in Appendix. • The C program can be implemented within 80 lines of code. If your program is longer than 80 lines, you may need to think about how to simplify your program. Hint: To print out a percentage %, please use %%. You may need to use C math library to calculate the powers of numbers. To compile a C program using math library, you must add option Im at the end of the cc command to link math library. E.g. gcc -o test test.c -Im 1. Calculating the monthly payment. (Note: The following instruction is from http://www.vertex42.com/ExcelArticles/amortization-calculation.html ) The formula for calculating the payment amount is shown below. r(1 +r)" A = B- (1 + r)" – 1 where • A payment Amount per period (monthly payment) • B- initial Balance (loan amount) • r interest rate per period n total number of payments or periods Example 1: What would the monthly payment be on a 5-year, $20,000 car loan with a nominal 7.5% annual interest rate? B- $20,000 r= 7.5% per year / 12 months 0.625%- 0.00625 per period n= 5 years 12 months 60 total periods 0.00625 (1+0.00625 4e (10.00625 0- - 400.76 A- 20000 . 2. Calculating the Principal(P), Interest(INT) and Balance(B) for each раyment. The formula is shown below. INT(n) - B(n - 1) r; P(n) = A - INT (n): B(n) - B(n - 1) - P(n): Where INT (n), P(n) and B(n) are the paid principal, paid interest and new balance for the nth payment. And B(0) means the loan amount.