Unformatted text preview: NY , and 3) interest rate entered in annual percentage rate (APR), APR . The output is, 1) the monthly payment on the car. Display and print with explanation at least the following in the command window. • A short description of the problem, • Loan amount in dollars, • Length of loan in integer years, • Interest rate in annual percentage rate, • Monthly payment in dollars. Example to check against : For a loan of $14,800 at 6.75% annual percentage rate (APR) for a 4 year term, LA = $14,800 IPM = APR/(12*100)=6.75/(12*100) = 0.005625 NM = NY x 12 = 4 x 12 = 48 months Hence, 48 ) 005625 . 1 ( 1 005625 . * 14800 − + − = PMT = $352.69...
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 Spring '08
 Daly,J
 Annual Percentage Rate, Mortgage loan, monthly payment

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