DO YOUR OWN CODE. Write a C program to calculate monthly payment and print a table of payment schedule for afixed rate loan, which performs a similar task as in the link below:http://www.bankrate.com/calculators/mortgages/loan-calculator.aspxIn this C program, the input and output are defined as following:●●Input: amount of loan, interest rate per year and number of paymentsOutput: a table of amortization schedule (also called payment schedule) containingpayment number, monthly payment, principal paid, interest paid and new balance at eachrow.The attached screenshot below shows a sample of the output.Yuans-MacBook-Pro: PC yuanlong $ ./loan CalcEnter amount of loan : $ 500Enter Interest rate per year : % 7.5Enter number of payments : 5:LN34 inMontly payment should be 101.88Payment$101.88$101.88$101.88$101.88$101.88=AMORTIZATIONPrincipal$98.76$99.38$100.00$100.62$101.25SCHEDULE==Interest$3.12$2.51$1.89$1.26$0.63Balance$401.24$301.87$201.87$101.25$0.00

Answered: O YOUR OWN CODE.

Engineering

Computer Science

O YOUR OWN CODE.

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Question

DO YOUR OWN CODE.

Write a C program to calculate monthly payment and print a table of payment schedule for a
fixed rate loan, which performs a similar task as in the link below:
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx
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 yuanlong $ ./loan Calc
Enter amount of loan : $ 500
Enter Interest rate per year : % 7.5
Enter number of payments : 5
:LN34 in
Montly payment should be 101.88
Payment
$101.88
$101.88
$101.88
$101.88
$101.88
=AMORTIZATION
Principal
$98.76
$99.38
$100.00
$100.62
$101.25
SCHEDULE==
Interest
$3.12
$2.51
$1.89
$1.26
$0.63
Balance
$401.24
$301.87
$201.87
$101.25
$0.00

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