Business
Business, 11.06.2020 22:57, gggg79

Write a C++ program to calculate the monthly cost of a house given the selling price, annual rate of interest, and number of years for the loan. The monthly mortgage payment may be computed using the following formula: payment = LaTeX: \frac{a\:\cdot\:i\:\cdot\:\left(1+i \right)^n}{\left(1+i\right)^n-1}a β‹… i β‹… ( 1 + i ) n ( 1 + i ) n βˆ’ 1 where a = amount of loan i = rate of interest per compounding period (annual rate/12) n = number of compounding periods (yrs*12) Assume that: the down payment will be 20% of selling price, annual property tax rate is 1.25% of selling price, utilities will be approximately $300.00 per month, and insurance will be $550.00 per year.

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