Design a class that will determine the monthly payment on a home mortgage. The program should calculate and display the mortgage payment amount, given the amount of the mortgage, the term of the mortgage, and the interest rate of the mortgage. Calculate the monthly paymen for the amount = $200,000, the term 30 years, and the interest rate = 4.5% which you get %3D %3D from user. Your monthly payment should be $1013.37. Insert comments in the program to document the program. To use pow (power function) you need to include the #include. The class should have members for constructors, setting and getting the loan amount, interest rate, and number of years of the loan. It should also have member functions for returning the monthly payment amount and the total amount paid to the bank at the end of the loan period, Implement the class in complete program and write a driver for the class to create objects. Input validation: Do not accept negative numbers for any of the loan values. Here is the guide for the Mortgage Calculator program; you can use the following formula: Principal x Rate monthlyPayment = -term 1-(rate+1) or monthlyPayment = principal * rate / ( 1.0 - pow(rate + 1, -term); %3D

Design a class that will determine the monthly payment on a home mortgage. The program should calculate and display the mortgage payment amount, given the amount of the mortgage, the term of the mortgage, and the interest rate of the mortgage. Calculate the monthly paymen for the amount = $200,000, the term 30 years, and the interest rate = 4.5% which you get %3D %3D from user. Your monthly payment should be $1013.37. Insert comments in the program to document the program. To use pow (power function) you need to include the #include. The class should have members for constructors, setting and getting the loan amount, interest rate, and number of years of the loan. It should also have member functions for returning the monthly payment amount and the total amount paid to the bank at the end of the loan period, Implement the class in complete program and write a driver for the class to create objects. Input validation: Do not accept negative numbers for any of the loan values. Here is the guide for the Mortgage Calculator program; you can use the following formula: Principal x Rate monthlyPayment = -term 1-(rate+1) or monthlyPayment = principal * rate / ( 1.0 - pow(rate + 1, -term); %3D

EBK JAVA PROGRAMMING

8th Edition

ISBN:9781305480537

Author:FARRELL

Publisher:FARRELL

Chapter3: Using Methods, Classes, And Objects

Section: Chapter Questions

Problem 10PE

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Concept explainers

OOPs

In today's technology-driven world, computer programming skills are in high demand. The object-oriented programming (OOP) approach is very much useful while designing and maintaining software programs. Object-oriented programming (OOP) is a basic programming paradigm that almost every developer has used at some stage in their career.

Constructor

The easiest way to think of a constructor in object-oriented programming (OOP) languages is:

Question

In C++, Also don’t forget to covert term and rate to month before calculating the monthly payment.

Design a class that will determine the monthly payment on a home mortgage. The program
should calculate and display the mortgage payment amount, given the amount of the mortgage,
the term of the mortgage, and the interest rate of the mortgage. Calculate the monthly payment
for the amount = $200,000, the term
30 years, and the interest rate = 4.5% which you get
from user. Your monthly payment should be $1013.37. Insert comments in the program to
document the program.
To use pow (power function) you need to include the #include<cmath>.
The class should have members for constructors, setting and getting the loan amount, interest
rate, and number of years of the loan. It should also have member functions for returning the
monthly payment amount and the total amount paid to the bank at the end of the loan period,
Implement the class in complete program and write a driver for the class to create objects.
Input validation: Do not accept negative numbers for any of the loan values.
Here is the guide for the Mortgage Calculator program; you can use the following formula:
Principalx Rate
monthlyPayment =
1-(rate+1)-term
or
monthlyPayment = principal * rate / ( 1.0 - pow(rate + 1, -term));

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