Calculate Monthly Payments by the given formula in C# console Application

Calculate Monthly Payments by the given formula in C#:




The monthly payment on a loan may be calculated by the following formula.

Monthly Payments by the given formula :


Payment = rate *(1+rate) N * L
                   (1+Rate)N -1

Rate is the monthly interest rate, which is the annual interest rate divided by 12 and then derived by 100. (A 12 percent annual interest would be 0.01 monthly interest). N is the number of payments and L is the amount of the loan. Write a program that asks for these values and displays a report similar to the following:
Hint: Use


Hint: Use the following code to calculate power:
double number = 10;
int power = 3;

double result = Math.Pow(number, power);

C# Program To Calculateing intrest :

using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;

namespace qus1
{
    class Program
    {
              

        static void Main(string[] args)
        {
            double loan = 0.0;
            int NOY = 0;
            double paid_monthly_rate = 0.01;
            int paid_annual_rate = 0;
            double payment = 0.0;

            Console.Out.Write("enter the annual intrast rate : ");
            paid_annual_rate = Convert.ToInt32(Console.ReadLine());
            Console.Out.Write("\n enter the number of monthly payments : ");
            NOY = Convert.ToInt32(Console.ReadLine());        

            Console.Out.Write("\n enter loan amount : ");
            lone = Convert.ToDouble(Console.ReadLine());


            Console.Out.Write("\n ***********************   Result   *******************  ");


            Console.Out.Write("\n Lone Ammount : "+loan);
            //paid_monthly_rate = Convert.ToDouble((1/100));
            Console.Out.Write("\n Monthly intrast rate : " + paid_monthly_rate);
            Console.Out.Write("\n Number of Monthly instalment : " + NOY);
            double val = Convert.ToDouble(Math.Pow((1 + paid_monthly_rate), NOY));

            payment = Convert.ToDouble((paid_monthly_rate * val * lone) / (val - 1));


            Console.Out.Write("\n Ammount paid back : " + payment*NOY);
            Console.Out.Write("\n Intrast Ammount : " + ((payment*NOY)-loan));
            Console.Out.Write("\n Monthly Payment : " + (payment));



            Console.Read();
        }
    }
}



Result of C# Program To Calculateing intrest:


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