Here are my Instructions for my C++ Program ExerciseWrite a program that accepts as input:1. The loan amount2. The interest rate per year3. The monthly payment. (Enter the interest rate as a percentage. For example, if the interest rate is 7.2% per year, then enter 7.2.) The program then outputs the number of months it would take to repay the loan. (Note that if the monthly payment is less than the first month’s interest, then after each payment, the loan amount will increase.)In this case, the program must warn the borrower that the Monthly payment is too low. The loan cannot be repaid. Since your program handles currency, make sure to use a data type that can store decimals with a decimal precision of 2. Here's what I have so far: //input the neccessary #include-header files#include <iostream>#include <iomanip> //input the neccessary namespace standardsusing namespace std; //define the main functionint main(){//declare the program variablesint months;double loan;double rate;double payment;double month_rate; //Prompt the user to input the loan amount.cout <<"How much is the loan?: $";cin >> loan;cout << endl; //Prompt the user to input the annual interest rate.cout <<"Enter the annual interest rate: ";cin >> rate;cout << endl; //The program will calculate the monthly interest rate by dividing the percent and interest by 12.month_rate = rate / 100. /12.; //Prompt the user to input the monthly payment.cout <<"Enter your monthly payment: $";cin >> payment;cout << endl; //using while loop//1. To check if the entered monthly paid value is less than the monthly interest//2. Then again asking the user to enter the monthly paymentwhile (payment <= loan * month_rate){//Prompt the user to enter the higher monthly payment.cout <<"Monthly payment is too low. The loan can't be repaid.\n";cout <<"\nEnter your monthly payment: $";cin >> payment;}months = 0;//while loopwhile (loan > 0){loan = loan - (payment - (loan * month_rate));months++;} //Print out the results to the usercout <<"AT" << rate <<"% and payments of $" << payment <<" per month\n It will take" << months <<" months to repay the loan\n"; //system ("pause"); return 0;} //end of main function My problem is I think I formatted my while loop incorrectly. When I input the values: 20000 14.7 88 The program correctly out puts, " Monthly payment is too low. The loan can't be repaid. Enter your monthly payment: $ However, it keeps looping no matter what new payment I input into the program. Can someone tell me how to fix the first while loop that's causing an infinte loop error? Thanks!
Operations
In mathematics and computer science, an operation is an event that is carried out to satisfy a given task. Basic operations of a computer system are input, processing, output, storage, and control.
Basic Operators
An operator is a symbol that indicates an operation to be performed. We are familiar with operators in mathematics; operators used in computer programming are—in many ways—similar to mathematical operators.
Division Operator
We all learnt about division—and the division operator—in school. You probably know of both these symbols as representing division:
Modulus Operator
Modulus can be represented either as (mod or modulo) in computing operation. Modulus comes under arithmetic operations. Any number or variable which produces absolute value is modulus functionality. Magnitude of any function is totally changed by modulo operator as it changes even negative value to positive.
Operators
In the realm of programming, operators refer to the symbols that perform some function. They are tasked with instructing the compiler on the type of action that needs to be performed on the values passed as operands. Operators can be used in mathematical formulas and equations. In programming languages like Python, C, and Java, a variety of operators are defined.
Here are my Instructions for my C++
Write a program that accepts as input:
1. The loan amount
2. The interest rate per year
3. The monthly payment.
(Enter the interest rate as a percentage. For
example, if the interest rate is 7.2% per
year, then enter 7.2.)
The program then outputs the number of
months it would take to repay the loan.
(Note that if the monthly payment is less
than the first month’s interest, then after
each payment, the loan amount will
increase.)
In this case, the program must warn the
borrower that the Monthly payment is too
low. The loan cannot be repaid.
Since your program handles currency, make sure to use a data type that can store decimals with a decimal precision of 2.
Here's what I have so far:
//input the neccessary #include-header files
#include <iostream>
#include <iomanip>
//input the neccessary namespace standards
using namespace std;
//define the main function
int main()
{
//declare the program variables
int months;
double loan;
double rate;
double payment;
double month_rate;
//Prompt the user to input the loan amount.
cout <<"How much is the loan?: $";
cin >> loan;
cout << endl;
//Prompt the user to input the annual interest rate.
cout <<"Enter the annual interest rate: ";
cin >> rate;
cout << endl;
//The program will calculate the monthly interest rate by dividing the percent and interest by 12.
month_rate = rate / 100. /12.;
//Prompt the user to input the monthly payment.
cout <<"Enter your monthly payment: $";
cin >> payment;
cout << endl;
//using while loop
//1. To check if the entered monthly paid value is less than the monthly interest
//2. Then again asking the user to enter the monthly payment
while (payment <= loan * month_rate)
{
//Prompt the user to enter the higher monthly payment.
cout <<"Monthly payment is too low. The loan can't be repaid.\n";
cout <<"\nEnter your monthly payment: $";
cin >> payment;
}
months = 0;
//while loop
while (loan > 0)
{
loan = loan - (payment - (loan * month_rate));
months++;
}
//Print out the results to the user
cout <<"AT" << rate <<"% and payments of $" << payment <<" per month\n It will take" << months <<" months to repay the loan\n";
//system ("pause");
return 0;
} //end of main function
My problem is I think I formatted my while loop incorrectly. When I input the values:
20000
14.7
88
The program correctly out puts, "
Monthly payment is too low. The loan can't be repaid.
Enter your monthly payment: $
However, it keeps looping no matter what new payment I input into the program. Can someone tell me how to fix the first while loop that's causing an infinte loop error? Thanks!
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