Purchase Solution

Interest Determination Per Annum

Not what you're looking for?

Ask Custom Question

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.

Purchase this Solution

Solution Summary

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

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]= ...

Purchase this Solution


Free BrainMass Quizzes
Basic Networking Questions

This quiz consists of some basic networking questions.

Basic UNIX commands

Use this quiz to check your knowledge of a few common UNIX commands. The quiz covers some of the most essential UNIX commands and their basic usage. If you can pass this quiz then you are clearly on your way to becoming an effective UNIX command line user.

Java loops

This quiz checks your knowledge of for and while loops in Java. For and while loops are essential building blocks for all Java programs. Having a solid understanding of these constructs is critical for success in programming Java.

C++ Operators

This quiz tests a student's knowledge about C++ operators.

C# variables and classes

This quiz contains questions about C# classes and variables.