CS 150 - Intro to Programming - Fall 2001

Programming Project 3 - 15 points

Due: Thursday Octobet 18th by 2:30pm

Design, implement and test a C++ program that prints a payment schedule for a debit and/or prints a loan payment amount. The program will present the user with a menu of choices, then carry out the request and print the results. The program will run until the user decides to quit.

Sample program run - User input in bold

Welcome to the Loan Program
Choose one of the following:

S to print a loan schedule
P to calculate monthly payment
E to Exit

Choice: S

Enter loan amount   : 1000
Enter interest rate : 10
Enter payment amount: 100

Payment   Balance  interest   principle
  1       1008.33      8.33       91.67
  2        915.90      7.57       92.43
  3        822.70      6.80       93.20
  4        728.72      6.02       93.98
  5        633.96      5.24       94.76
  6        538.41      4.45       95.55
  7        442.07      3.65       96.35
  8        344.92      2.85       97.15
  9        246.96      2.04       97.96
 10        148.18      1.22       98.78

Final Payment of : 48.18
/***************************************************/

Welcome to the Loan Program
Choose one of the following:

S to print a loan schedule
P to calculate monthly payment
E to Exit

Choice: P

Enter loan amount   : 100000
Enter interest rate : 7.5
Enter years: 15

Your Payment would be: $927.01 per month
/***************************************************/ 

p = m * ( (1 + r/12)¹²ⁿ * (r/12) ) / ((1 + r/12)¹²ⁿ -1);

where m is the amount of the loan, r is the annual interest rate (in decimal form), and n is the number of years in the mortage. For example, a 30 year loan of $105,000 at 11.5% (r = 0.115) results in a monthly payment of $1039.81 - a 15 year loan of $100,000 at 7.5% (r = 0.075) results in a monthly payment of $927.01

Additional Requirements:

• All floating point values should be output to TWO decimal place accuracy.
• Do range checking on all values input - do not allow negative values for any input.
• When getting the payment for the loan schedule, do not allow a payment amount that is less than 5% of the loan amount.
• You must include pre and post conditionsfor each function prototype.
• You must provide a function header for each function.

Notes:

• You must use functions for this program.
• Follow the program development process given in class and lab7.
• Pseudo code will be most helpful. Start with the function prototypes.
• Develop at least three test cases for each function BEFORE you start writing C++ code.
• Stub out each functions and get the flow of the program to work before implementing the code.
• Add one function at a time.
• Partial Credit can be given for a function stub that has not yet been implemented.
• Any function not completely implemented should print the message "Under construction"
• Compile and run your program each time you add a new feature or correct a bug (sometimes fixing one bug creates new ones!).
• Be sure to document your source file, and use the good indenting and spacing as described in the style guidelines and discussed in class.
• Review the Lab Guidelines and the Programming Projects information (be sure to read and understand the Policy on Collaboration ).

What to Turn In:

electronic version files: Due:

• yourLastNameP3 (folder with one file)
• yourLastNameP3.cpp

paper version: Due: Thursday October 18th by 2:30pm

• yourLastNameP3.cpp