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Posted: September 1st, 2023
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Write a program that will tell you how many months it will take you to pay off a loan for a purchase item with no down payment, as well as the total amount of interest paid over the life of the loan.
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The program should input from the user the amount of loan needed, the interest rate per year, and your monthly payment. Also, the program should tell you how many months it will take you to pay off the loan, as well as the total amount of interest paid over the life of the loan.
For example, if 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.
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