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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.


  • 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




What to Do:

Top Answer

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