[solved]-Write Program Figure Better Pay Loans Pay Minimal Invest Rest Money Interest Applied Month Q39088912
You will write a program to figure out if it is better to payoff your loans or just pay off the minimal and invest the rest ofthe money. Interest is applied monthly. So every month, you firstapplied the interest, then pay the loan and invest the rest. Youshould validate user inputs. First, money owed in loans, annualinter, minimum monthly loan payment, current age and predictedannual rate cannot be below 0. Second, The amount of money you willbe putting towards loans/retirement each month cannot be less thanthe minium montly loan. Lastly, retirement age cannot be less thencurrent age. The program should also print out a warning if youstill owe money after retiring and the amount.
Enter how much money you owe in loans: 10000Enter the annual interest rate of the loans: .1Enter your minimum monthly loan payment: 20Enter how much money you will be putting towards loans/retirement each month: 200Enter your current age: 30Enter the age you plan to retire at: 65Enter your predicted annual rate of return: .2Warning after you retire you will still have $250453.74 in loans left.You should only make minimum payments on your loans and invest the restIf you do you will have $11168878.10 as opposed to $4233691.68 when you retire.Enter how much money you owe in loans: -2Enter how much money you owe in loans: -3Enter how much money you owe in loans: 1000Enter the annual interest rate of the loans: -23Enter the annual interest rate of the loans: -2Enter the annual interest rate of the loans: 0.3Enter your minimum monthly loan payment: 40Enter how much money you will be putting towards loans/retirement each month: 100Enter your current age: 50Enter the age you plan to retire at: 65Enter your predicted annual rate of return: .1You should pay of all of your loans before you start investingIf you do you will have $36520.69 as opposed to $35443.26 when you retire.
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