5. In main(), using the monthly payment that you just calculated, call a function to create an amortization schedule for the loan using these specifications: a. Create a function called Amortize. It should receive as parameters: currentPeriod, totalPeriods, paymentAmount, monthlyInterestRate, currentBalance. b. The function MUST be recursive to receive credit for producing the Amortization Schedule. c. The function should print out the Amortization Schedule to the screen using good formatting (including spelling and grammar where appropriate)

5. In main(), using the monthly payment that you just calculated, call a function to create an amortization schedule for the loan using these specifications: a. Create a function called Amortize. It should receive as parameters: currentPeriod, totalPeriods, paymentAmount, monthlyInterestRate, currentBalance. b. The function MUST be recursive to receive credit for producing the Amortization Schedule. c. The function should print out the Amortization Schedule to the screen using good formatting (including spelling and grammar where appropriate)

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter8: Network Models

Section8.5: Minimum-cost Network Flow Problems

Problem 8P

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Question

I need help creating a function that creates an amoritization schedule for a loan.

Loan Application - Amortization Schedule
Principal:
Life of Loan (10, 15 or 30 years):
Annual interest rate:
Monthly payment:
100000
15
4.5%
764.99
Payment
Amount Interest Principal
Balance
100000.ӨӨ
1
764.99
375.00
389.99
99610.01
2
764.99
373.54
391.46
99218.55
3
764.99
372.07
392.92
98825.63
...
...
...
178
764.99
8.54
756.45
1521.42
179
764.99
5.71
759.29
762.14
180
764.99
2.86
762.14
0.00
Press any key to continue

5. In main(), using the monthly payment that you just calculated, call a function to create an
amortization schedule for the loan using these specifications:
a. Create a function called Amortize. It should receive as parameters:
currentPeriod, totalPeriods, paymentAmount, monthlyInterestRate,
currentBalance.
b. The function MUST be recursive to receive credit for producing the
Amortization Schedule.
c. The function should print out the Amortization Schedule to the screen using good
formatting (including spelling and grammar where appropriate)

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