Answer to Question #321450 in C++ for North

Question

implement the class Loan with the following requirements:

•

A member variable that will hold the annual interest rate of the loan. Its default value will be 2.5.

•

A member variable that will hold the number of years for the loan. Its default value will be 1.

•

A member variable that will hold the loan amount. Its default variable will be 1000.

•

A default constructor.

•

Another constructor that has interest rate, years, and loan amount as its parameters.

•

A member function that returns the annual interest rate of this loan.

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A member function that returns the number of the years of this loan.

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A member function that returns the amount of this loan.

•

A member function that sets a new annual interest rate to this loan.

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A member function that sets a new number of years to this loan.

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A member function that sets a new amount to this loan.

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A member function that returns the monthly payment of this loan.

•

A member function that returns the total payment of this loan.

Answer 1

#include <iostream>

using namespace std;

class Loan
{
	double rate = 2.5;
	int years = 1;
	double amount = 1000;

public:
	Loan()
	{
	}

	Loan(double rate, int years, double amount)
	{
		this->rate = rate;
		this->years = years;
		this->amount = amount;
	}

	double getRate()
	{
		return rate;
	}

	int getYears()
	{
		return years;
	}

	double getAmount()
	{
		return amount;
	}

	void setRate(double rate)
	{
		this->rate = rate;
	}

	void setYears(int years)
	{
		this->years = years;
	}

	void setAmount(double amount)
	{
		this->amount = amount;
	}

	double calculateMonthlyPayment()
	{
		double coefficient = 1;
		for (int i = 0; i < 12 * years; i++)
			coefficient *= 1 + rate / 12 / 100;
		return amount * rate / 12 / 100 * coefficient / (coefficient - 1);
	}

	double calculateTotalPayment()
	{
		return calculateMonthlyPayment() * 12 * years;
	}
};

int main()
{
	Loan loan(7.5, 5, 10000);
	cout << "Annual interest rate = " << loan.getRate() << endl;
	cout << "Number of years = " << loan.getYears() << endl;
	cout << "Loan amount = " << loan.getAmount() << endl;
	cout << "Monthly payment = " << loan.calculateMonthlyPayment() << endl;
	cout << "Total payment = " << loan.calculateTotalPayment() << endl;
	return 0;
}