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# Interest Determination Per Annum

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A student borrows 3,000 at an interest rate of 2 % per month on the unpaid balance. If the student pays \$200 at the end of each month, what is the remaining balance at the end of one year?

How much interest has the student paid for the year?

Output: Output consists of a screen display showing the balance each month, remaining balance at the end of one year and the total interest the student has paid for the year.

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https://brainmass.com/computer-science/pseudocode/interest-determination-annum-45085

#### Solution Preview

Please refer to the attached files.

#include<iostream.h>

void main()
{
double interestrate = 0.02;
double monthlypayment= 200.00;
double borrowedamount[12];
borrowedamount[0]= ...

#### Solution Summary

The solution determines how much interest has the student paid for the year.

\$2.49