Question

Using C#

Create a class called CreditAccount. When user create this account, she/he need to enter sum of credit and loan repayment period in months. Monthly payment need to calculate using bank percentage. You must come up with a formula for calculating percentage, you can use any formula, you want.

Answer 1

using System;

  

public class CreditAccount {

      

    // Function to calculate monthly payment

    static float payment(float p,float r, float t)

    {

        float pay;

      

        r = r / (12 * 100); // one month interest

        t = t * 12; // one month period

        pay = (p * r * (float)Math.Pow(1 + r, t))

               / (float)(Math.Pow(1 + r, t) - 1);

      

        return (pay);

    }

  

    static public void Main ()

    {

        float principal, rate, time, emi;

        principal = ;

        rate = ;

        time = ;

          

        pay =payment(principal, rate, time);

          

        Console.WriteLine("Monthly Payment is = " + pay);

    }

}

using System;
  
public class CreditAccount {
      
    // Function to calculate monthly payment
    static float payment(float p,float r, float t)
    {
        float pay;
      
        r = r / (12 * 100); // one month interest
        t = t * 12; // one month period
        pay = (p * r * (float)Math.Pow(1 + r, t)) 
               / (float)(Math.Pow(1 + r, t) - 1);
      
        return (pay);
    }
  
    static public void Main ()
    {
        float principal, rate, time, emi;
        principal = ;
        rate = ;
        time = ;
          
        pay =payment(principal, rate, time);
          
        Console.WriteLine("Monthly Payment is = " + pay);
    }
}