Answer:
// Program is written in C++ programming language
// Comments are used for explanatory purpose
// Program starts here
#include <iostream>
#include <cmath>
using namespace std;
int main ()
{
// Variable Declarations
int years; double amount;
// Get input for loan amount and period (in years)
cout<<"Loan Amount: ";
cin>>amount;
cout<<"Number of Years: ";
cin>>years;
// Display table header
cout<<"Interest Rate Monthly Payment Total Payment";
// Calculate and display interest rates
// Start iteration
for (double i = 5.0; i <= 8; i += 0.125) {
cout<<i;
// Calculate Monthly Interest Rate
double monthlyRate = i / 1200;
// Calculate and Print Monthly Payment
double monthlyPay = amount * monthlyRate / (1 - 1 / pow(1 + monthlyRate, years * 12)); cout<<monthlyPay; cout<<"\n"<<(monthlyPay * 12) * years);
}
return 0;
}
// End of program
