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Write a C++ program to output the payment schedule for amount owed when each month nothing more is charged to the account but only the minimum payment is paid. The output stops when the balance is fully paid (i.e. no longer > 0). Input: Data must be done in a separate function. Input the following: credit card balance, interest rate on your credit card, and percent of minimum payment. Test data: 624 24 4 Data must be read from a file called lab6.txt . Calculate: This function must be called from main() from within the loop. For each month, calculate the amount of interest balance before calculating minimum payment), total of interest paid, amount of minimum payment due for the month, and updating new balance. be paid that month (adding this into If the minimum payment is less than $15.00, the minimum payment is $15.00 if you owe at least $15.00 or the minimum payment will be just what you owe if you owe less than $15.00. Output: This function must be called from main() from within the loop. There needs to be a separate function to output the table heading. Also output the information input from the file. There needs to be a separate function to output month, balance at the end of the month, interest paid that month, minimum payment for that month, and the sum of amount of interest paid so far. All output must be redirected to a file. Sample output: Balance Owing: $ 624.00 APR as % 24 Percent for minimum payment as $ Minimum Sum of interest paid Month Balance Interest this month 12.48 24.70 36.67 1 611.02 12.48 12.22 11.97 25.46 2 598.31 24.93 585.87 24.41 4 573.68 11.72 23.90 48.38

Write a C++ program to output the payment schedule for amount owed when each month nothing more is charged to the account but only the minimum payment is paid. The output stops when the balance is fully paid (i.e. no longer > 0). Input: Data must be done in a separate function. Input the following: credit card balance, interest rate on your credit card, and percent of minimum payment. Test data: 624 24 4 Data must be read from a file called lab6.txt . Calculate: This function must be called from main() from within the loop. For each month, calculate the amount of interest balance before calculating minimum payment), total of interest paid, amount of minimum payment due for the month, and updating new balance. be paid that month (adding this into If the minimum payment is less than $15.00, the minimum payment is $15.00 if you owe at least $15.00 or the minimum payment will be just what you owe if you owe less than $15.00. Output: This function must be called from main() from within the loop. There needs to be a separate function to output the table heading. Also output the information input from the file. There needs to be a separate function to output month, balance at the end of the month, interest paid that month, minimum payment for that month, and the sum of amount of interest paid so far. All output must be redirected to a file. Sample output: Balance Owing: $ 624.00 APR as % 24 Percent for minimum payment as $ Minimum Sum of interest paid Month Balance Interest this month 12.48 24.70 36.67 1 611.02 12.48 12.22 11.97 25.46 2 598.31 24.93 585.87 24.41 4 573.68 11.72 23.90 48.38

Database System Concepts
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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Write a C++ program to output the payment schedule for amount owed when each month nothing more is charged to the account but only the minimum payment is paid. The output stops when the balance is fully paid (i.e. no longer> 0). Input: Data must be done in a separate function. Input the following: credit card balance, interest rate on your credit card, and percent of minimum payment. Test data: 624 24 4 Data must be read from a file called lab6.txt . Calculate: This function must be called from main() from within the loop. For each month, calculate the amount of interest to be paid that month (adding this into balance before calculating minimum payment), total of interest paid, amount of minimum payment due for the month, and updating new balance. If the minimum payment is less than $15.00, the minimum payment is $15.00 if you owe at least $15.00 or the minimum payment will be just what you owe if you owe less than $15.00. Output: This function must be called from main() from within the loop. There needs to be a separate function to output the table heading. Also output the information input from the file. There needs to be a separate function to output month, balance at the end of the month, interest paid that month, minimum payment for that month, and the sum of amount of interest paid so far. All output must be redirected to a file. Sample output: Balance Owing: $ 624.00 APR as % 24 Percent for minimum payment as % 4 Month Balance Interest Minimum Sum of this month interest paid 1 611.02 12.48 25.46 12.48 598.31 12.22 24.93 24.70 585.87 11.97 24.41 36.67 573.68 11.72 23.90 48.38 57 31.80 0.92 15.00 388.14 58 17.44 0.64 15.00 388.78
Transcribed Image Text:Write a C++ program to output the payment schedule for amount owed when each month nothing more is charged to the account but only the minimum payment is paid. The output stops when the balance is fully paid (i.e. no longer> 0). Input: Data must be done in a separate function. Input the following: credit card balance, interest rate on your credit card, and percent of minimum payment. Test data: 624 24 4 Data must be read from a file called lab6.txt . Calculate: This function must be called from main() from within the loop. For each month, calculate the amount of interest to be paid that month (adding this into balance before calculating minimum payment), total of interest paid, amount of minimum payment due for the month, and updating new balance. If the minimum payment is less than $15.00, the minimum payment is $15.00 if you owe at least $15.00 or the minimum payment will be just what you owe if you owe less than $15.00. Output: This function must be called from main() from within the loop. There needs to be a separate function to output the table heading. Also output the information input from the file. There needs to be a separate function to output month, balance at the end of the month, interest paid that month, minimum payment for that month, and the sum of amount of interest paid so far. All output must be redirected to a file. Sample output: Balance Owing: $ 624.00 APR as % 24 Percent for minimum payment as % 4 Month Balance Interest Minimum Sum of this month interest paid 1 611.02 12.48 25.46 12.48 598.31 12.22 24.93 24.70 585.87 11.97 24.41 36.67 573.68 11.72 23.90 48.38 57 31.80 0.92 15.00 388.14 58 17.44 0.64 15.00 388.78
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