COSC 1315 - Fundamentals of Programming
Allan Kochis
Programming Assignment 6
Using the information from prior homework on loans implement an
IPO to produce a loan repayment schedule with yearly totals:
What is the principle? : 4000
How many years? : 3
What is the annual interest rate? : 6.5
What is the starting Month for payments (1-12) : 3
What is the Starting Year : 2005
The monthly payment is : 122.60
Total repayment is : 4413.46
Total Interest is : 413.46
Repayment schedule
Payment Applied Applied to
Date Number Payment Interest Principle Balance
3/2005 1 122.60 21.67 100.93 3899.07
4/2005 2 122.60 21.12 101.48 3797.59
5/2005 3 122.60 20.57 102.03 3695.57
6/2005 4 122.60 20.02 102.58 3592.99
7/2005 5 122.60 19.46 103.13 3489.86
8/2005 6 122.60 18.90 103.69 3386.16
9/2005 7 122.60 18.34 104.25 3281.91
10/2005 8 122.60 17.78 104.82 3177.09
11/2005 9 122.60 17.21 105.39 3071.70
12/2005 10 122.60 16.64 105.96 2965.75
Total 1225.96 191.71 1034.25
1/2006 11 122.60 16.06 106.53 2859.21
2/2006 12 122.60 15.49 107.11 2752.11
3/2006 13 122.60 14.91 107.69 2644.42
4/2006 14 122.60 14.32 108.27 2536.15
5/2006 15 122.60 13.74 108.86 2427.29
6/2006 16 122.60 13.15 109.45 2317.84
7/2006 17 122.60 12.55 110.04 2207.80
8/2006 18 122.60 11.96 110.64 2097.16
9/2006 19 122.60 11.36 111.24 1985.92
10/2006 20 122.60 10.76 111.84 1874.08
11/2006 21 122.60 10.15 112.44 1761.64
12/2006 22 122.60 9.54 113.05 1648.59
Total 1471.15 153.99 1317.16
1/2007 23 122.60 8.93 113.67 1534.92
2/2007 24 122.60 8.31 114.28 1420.64
3/2007 25 122.60 7.70 114.90 1305.74
4/2007 26 122.60 7.07 115.52 1190.21
5/2007 27 122.60 6.45 116.15 1074.07
6/2007 28 122.60 5.82 116.78 957.29
7/2007 29 122.60 5.19 117.41 839.88
8/2007 30 122.60 4.55 118.05 721.83
9/2007 31 122.60 3.91 118.69 603.14
10/2007 32 122.60 3.27 119.33 483.81
11/2007 33 122.60 2.62 119.98 363.84
12/2007 34 122.60 1.97 120.63 243.21
Total 1471.15 65.78 1405.37
1/2008 35 122.60 1.32 121.28 121.94
2/2008 36 122.60 0.66 121.94 -0.00
Total 245.19 1.98 243.21
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