Question

I need to create a monthly loan Calculator in C++. I know the formula but can't figure out what's wrong with my code. Any clarification would be appreciated!

// Only add code where indicated by the comments.
// Do not modify any other code.
#include <iostream>
#include <cmath>
using namespace std;

int main() {
   // ---------------- Add code here --------------------
   // -- Declare necessary variables here              --
  
    int years = 0; //n
    int LoanAmount = 0;
    double AnnualRate = 0.0; //r
    double payment = 0.0;
  
    // --
    cout << "Enter the amount, rate as a percentage (e.g. 3.25), and number of years\n";
    cout << " separated by spaces: " << endl;

   // ---------------- Add code here --------------------
   // -- Receive input and compute the monthly payment --
   cin >> LoanAmount >> AnnualRate >> years;

   AnnualRate = AnnualRate / 100;
   years = years * 12;

   payment = ((LoanAmount * AnnualRate) / 1 - (1 + AnnualRate) * -years);
  
   // ---------------- Add code here ------------------
    // Print out the answer as a double, all by itself
    // (no text) followed by a newline
    // Ex. cout << payment << endl;

   cout << payment << endl;

  
    return 0;
}

Answer 1

Code:

#include <iostream>
#include <cmath>
using namespace std;

int main()
{
   int years;
   int loanAmount;
   double annualRate;
   double payment;

   // getting input
   cout << "Enter the amount, rate as a percentage (e.g. 3.25), and number of years" << endl;
   cout << "separated by spaces: " << endl;
   cin >> loanAmount >> annualRate >> years;

   annualRate = annualRate/100; // converting rate into decimal
   years = years*12; // number of months

   // payment using formula
   payment = (loanAmount*annualRate)/(1 - pow(1+annualRate, -years));

   // output
   cout << payment << endl;

   return 0;
}

OUTPUT: