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Question

Problem Statement:Mr. Reyes wanted to purchase a van to be used in his delivery business.

He chooses a brand new L300 van that would cost 550,000.00 pesos. The van requires a 25% down payment and a selection of 24, 36 and 60 months installment plan with an interest of 2.5% per month. The remaining balance will be in terms of loan through bank financing. Write a program that will determine the how much monthly payment Mr. Reyes will be paying base on the given selection of installment plan. Use Looping statement to display the monthly payment.

Formulas:

• Balance to Pay = Van_Amount - Down_Payment
• Balance = Total_Payable - Monthly_Amort.

Required Output:

Down Payment : (Display the value)

Balance to Pay : (Display the Value)

Enter the number of Payments: ____(Input)

Total Payable for __ months : (Display Amount)

Monthly Amortization

Period Monthly Amort. Balance

1

2

.

What to Do:

#include&lt;iostream&gt; #include&lt;iomanip&gt; using namespace std; void line() { for(int... View the full answer

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amort.cpp
#include&lt;iostream&gt;
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#include&lt;iomanip&gt;...

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