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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.

    © BrainMass Inc. brainmass.com March 4, 2021, 6:26 pm ad1c9bdddf
    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

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