Write a program that reads the amount of a monthly mortgage payment andthe amount still owed—the outstanding balance—and then displays theamount of the payment that goes to interest and the amount that goes toprincipal (i.e., the amount that goes to reducing the debt). Assume that theannual interest rate is 7.49 percent. Use a named constant for the interest rate.Note that payments are made monthly, so the interest is only one twelfth ofthe annual interest of 7.49 percent.

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
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Write a program that reads the amount of a monthly mortgage payment and
the amount still owed—the outstanding balance—and then displays the
amount of the payment that goes to interest and the amount that goes to
principal (i.e., the amount that goes to reducing the debt). Assume that the
annual interest rate is 7.49 percent. Use a named constant for the interest rate.
Note that payments are made monthly, so the interest is only one twelfth of
the annual interest of 7.49 percent.

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