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Added Mortgage Calculator in C #162

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61 changes: 61 additions & 0 deletions Solution/Numbers/Mortgage Calculator.c
Original file line number Diff line number Diff line change
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// Calculate the monthly payments of a fixed term mortgage over given Nth terms at a given interest rate.
//This program is the C equivalent of the Java Program by francis36012

#include <stdio.h>

double computeMonthlyPayment(double loan, float interestRate, int term);
float exponentialFunction(float base, int months);

void main(){

double loan = 0;
float interestRate = 0;
float monthlyPayment = 0;
float balance = 0;
int compoundPeriod = 0;
int term;

printf("Enter loan amount: ");
scanf("%lf", &loan);

printf("Enter interest rate on loan: ");
scanf("%f", &interestRate);

printf("Enter term (in years) for the loan payment: ");
scanf("%d", &term);

printf("\n---------------------------------------------\n");

monthlyPayment = computeMonthlyPayment(loan, interestRate, term);
balance = (float) -(monthlyPayment * (term * 12));

printf("Amount owed to bank : %.2f\n", balance);
printf("Minimum monthly payment : %.2f\n", monthlyPayment);


}


// Computer monthly payment of a loan
double computeMonthlyPayment(double loan, float interestRate, int term){

float rate = (interestRate / 100) / 12;
float base = rate + 1;
int months = term * 12;
float result = 0;
result = (float) loan * (rate * exponentialFunction(base, months)) / (exponentialFunction(base, months) - 1); // Calculation / Formula
return result;

}

float exponentialFunction(float base, int months){ // power function
int i; // counter variable
float tempVar = 1;
for(i = 0; i < months; i++){
tempVar *= base;
}

return tempVar;

}

Binary file added Solution/Numbers/Mortgage Calculator.exe
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