C++ Loan repayment issues
Not sure where I am going wrong. I have looked up the exact same problem a couple of times on this site and others. Here is the question...
You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of 18% per year (1.5% per month), and monthly payments of $50. The monthly payment of $50 is used to pay the interest, and whatever is left is used to pay part of the remaining debt. Hence, the first month you pay 1.5% of $1,000 in interest. That is $15 in interest. The remaining $35 is deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of 1.5% of $965.00, which is $14.48. Hence, you can deduct $35.52 (which is $50 - $14.48) from the amount you owe.
Here is my code.
using namespace std;
int main(){
double interest;
double interestpaid;
double principle=1000.0;
const double rate= 0.015;
const int moneydue = 50;
int month = 0;
cout << "Repayment Plan"<<'n';
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
principle -= moneydue + interestpaid;
month++;
}
cout << month << interest << principle <<'n';
cout <<"It will take" << month << "months to pay off" <<'n';
cout <<"The last principle payment is" << principle << endl;
return 0;
}
Here's what I'm getting:
And here's what I need:
![What I need][2](https://i.stack.imgur.com/0SggJ.png)
c++
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
|
show 3 more comments
Not sure where I am going wrong. I have looked up the exact same problem a couple of times on this site and others. Here is the question...
You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of 18% per year (1.5% per month), and monthly payments of $50. The monthly payment of $50 is used to pay the interest, and whatever is left is used to pay part of the remaining debt. Hence, the first month you pay 1.5% of $1,000 in interest. That is $15 in interest. The remaining $35 is deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of 1.5% of $965.00, which is $14.48. Hence, you can deduct $35.52 (which is $50 - $14.48) from the amount you owe.
Here is my code.
using namespace std;
int main(){
double interest;
double interestpaid;
double principle=1000.0;
const double rate= 0.015;
const int moneydue = 50;
int month = 0;
cout << "Repayment Plan"<<'n';
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
principle -= moneydue + interestpaid;
month++;
}
cout << month << interest << principle <<'n';
cout <<"It will take" << month << "months to pay off" <<'n';
cout <<"The last principle payment is" << principle << endl;
return 0;
}
Here's what I'm getting:
And here's what I need:
c++
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
@Spicymoose Hi there, welcome to SO. Can you clarify:I have looked up the exact same problemwhat the "exact same problem" is?
– TrebuchetMS
Nov 24 '18 at 4:45
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when thecoutstatements fall outside thewhileloop?
– PaulMcKenzie
Nov 24 '18 at 4:49
(and this has nothing to do with your task, but does your teacher actually tell you tousing namespace std;)?
– Ted Lyngmo
Nov 24 '18 at 4:52
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04
|
show 3 more comments
Not sure where I am going wrong. I have looked up the exact same problem a couple of times on this site and others. Here is the question...
You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of 18% per year (1.5% per month), and monthly payments of $50. The monthly payment of $50 is used to pay the interest, and whatever is left is used to pay part of the remaining debt. Hence, the first month you pay 1.5% of $1,000 in interest. That is $15 in interest. The remaining $35 is deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of 1.5% of $965.00, which is $14.48. Hence, you can deduct $35.52 (which is $50 - $14.48) from the amount you owe.
Here is my code.
using namespace std;
int main(){
double interest;
double interestpaid;
double principle=1000.0;
const double rate= 0.015;
const int moneydue = 50;
int month = 0;
cout << "Repayment Plan"<<'n';
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
principle -= moneydue + interestpaid;
month++;
}
cout << month << interest << principle <<'n';
cout <<"It will take" << month << "months to pay off" <<'n';
cout <<"The last principle payment is" << principle << endl;
return 0;
}
Here's what I'm getting:
And here's what I need:
c++
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
Not sure where I am going wrong. I have looked up the exact same problem a couple of times on this site and others. Here is the question...
You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of 18% per year (1.5% per month), and monthly payments of $50. The monthly payment of $50 is used to pay the interest, and whatever is left is used to pay part of the remaining debt. Hence, the first month you pay 1.5% of $1,000 in interest. That is $15 in interest. The remaining $35 is deducted from your debt, which leaves you with a debt of $965.00. The next month you pay interest of 1.5% of $965.00, which is $14.48. Hence, you can deduct $35.52 (which is $50 - $14.48) from the amount you owe.
Here is my code.
using namespace std;
int main(){
double interest;
double interestpaid;
double principle=1000.0;
const double rate= 0.015;
const int moneydue = 50;
int month = 0;
cout << "Repayment Plan"<<'n';
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
principle -= moneydue + interestpaid;
month++;
}
cout << month << interest << principle <<'n';
cout <<"It will take" << month << "months to pay off" <<'n';
cout <<"The last principle payment is" << principle << endl;
return 0;
}
Here's what I'm getting:
And here's what I need:
c++
c++
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
edited Nov 24 '18 at 11:02
TrebuchetMS
2,2781622
2,2781622
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
asked Nov 24 '18 at 4:39
SpicymooseSpicymoose
1
1
what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
@Spicymoose Hi there, welcome to SO. Can you clarify:I have looked up the exact same problemwhat the "exact same problem" is?
– TrebuchetMS
Nov 24 '18 at 4:45
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when thecoutstatements fall outside thewhileloop?
– PaulMcKenzie
Nov 24 '18 at 4:49
(and this has nothing to do with your task, but does your teacher actually tell you tousing namespace std;)?
– Ted Lyngmo
Nov 24 '18 at 4:52
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04
|
show 3 more comments
what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
@Spicymoose Hi there, welcome to SO. Can you clarify:I have looked up the exact same problemwhat the "exact same problem" is?
– TrebuchetMS
Nov 24 '18 at 4:45
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when thecoutstatements fall outside thewhileloop?
– PaulMcKenzie
Nov 24 '18 at 4:49
(and this has nothing to do with your task, but does your teacher actually tell you tousing namespace std;)?
– Ted Lyngmo
Nov 24 '18 at 4:52
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04
what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
@Spicymoose Hi there, welcome to SO. Can you clarify:
I have looked up the exact same problem what the "exact same problem" is?– TrebuchetMS
Nov 24 '18 at 4:45
@Spicymoose Hi there, welcome to SO. Can you clarify:
I have looked up the exact same problem what the "exact same problem" is?– TrebuchetMS
Nov 24 '18 at 4:45
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when the
cout statements fall outside the while loop?– PaulMcKenzie
Nov 24 '18 at 4:49
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when the
cout statements fall outside the while loop?– PaulMcKenzie
Nov 24 '18 at 4:49
(and this has nothing to do with your task, but does your teacher actually tell you to
using namespace std;)?– Ted Lyngmo
Nov 24 '18 at 4:52
(and this has nothing to do with your task, but does your teacher actually tell you to
using namespace std;)?– Ted Lyngmo
Nov 24 '18 at 4:52
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04
|
show 3 more comments
1 Answer
1
active
oldest
votes
To debug your code, for every iteration of your while(principle > 0) loop,
you should print out how much goes to the interest, and how much goes to the principal. You are miscalculating how much money goes towards the principle payment. Consider this
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
double principalPayment = moneydue - interestpaid;
principle -= principalPayment;
month++;
}
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
add a comment |
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1 Answer
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1 Answer
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votes
To debug your code, for every iteration of your while(principle > 0) loop,
you should print out how much goes to the interest, and how much goes to the principal. You are miscalculating how much money goes towards the principle payment. Consider this
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
double principalPayment = moneydue - interestpaid;
principle -= principalPayment;
month++;
}
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
add a comment |
To debug your code, for every iteration of your while(principle > 0) loop,
you should print out how much goes to the interest, and how much goes to the principal. You are miscalculating how much money goes towards the principle payment. Consider this
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
double principalPayment = moneydue - interestpaid;
principle -= principalPayment;
month++;
}
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
add a comment |
To debug your code, for every iteration of your while(principle > 0) loop,
you should print out how much goes to the interest, and how much goes to the principal. You are miscalculating how much money goes towards the principle payment. Consider this
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
double principalPayment = moneydue - interestpaid;
principle -= principalPayment;
month++;
}
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
To debug your code, for every iteration of your while(principle > 0) loop,
you should print out how much goes to the interest, and how much goes to the principal. You are miscalculating how much money goes towards the principle payment. Consider this
while(principle > 0)
{
interestpaid = principle*rate;
interest += interestpaid;
double principalPayment = moneydue - interestpaid;
principle -= principalPayment;
month++;
}
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
answered Nov 24 '18 at 4:59
HappyKeyboardHappyKeyboard
1066
1066
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
add a comment |
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
I tried doing as suggested, but still can't seem to get the proper answers.
– Spicymoose
Nov 24 '18 at 6:02
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
make sure that you understand the problem statement correctly. Are you compounding interest correctly? Is it supposed to be compounded continuously, monthly, daily? Suggestion provided in my answer gets you values close enough to what you expect.
– HappyKeyboard
Nov 24 '18 at 15:11
add a comment |
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what is the problem with your code?
– Ted Lyngmo
Nov 24 '18 at 4:41
@Spicymoose Hi there, welcome to SO. Can you clarify:
I have looked up the exact same problemwhat the "exact same problem" is?– TrebuchetMS
Nov 24 '18 at 4:45
First, don't post images from an external web site. Second, it is obvious your code could not produce multiple lines of output as you have shown. How could it when the
coutstatements fall outside thewhileloop?– PaulMcKenzie
Nov 24 '18 at 4:49
(and this has nothing to do with your task, but does your teacher actually tell you to
using namespace std;)?– Ted Lyngmo
Nov 24 '18 at 4:52
@TedLyngmo Probably. There are still evil <expletive deleted>ers out there forcing students to use TurboC++ (Yes, a programming tool so old that it hung out with Care Bears) and teach C89 to unsuspecting kids who think they are learning C++.
– user4581301
Nov 24 '18 at 5:04