Programming Assignment 2a
Programming Assignment Directions
In this assignment you are going to develop a Swift program to calculate the amount of a mortgage payment. Refer to the appropriate video or any online source for how the mathematics of the calculation works. You program should prompt the user for text-based input of
The amount of the loan in whole dollars
The number of payments (e.g. 360 for 30-year)
The interest rate per payment period in percent ( a positive floating-point number)
The program should print out the correct value (in dollars and cents) of the per-period payment of principal and interest (ignore escrow accounts, taxes, and insurance) for the following scenarios:
72 month loan of $20,000, 4.4% APR, compounded monthly
30 year loan of $150,000, 5% APR, one annual payment each year for 30 years
There are many loan calculators online you can use to check your work.
Once you have the calculation working in a playground, write an iOS app for a loan payment calculator. The user interface should have
Three text boxes, with labels, for
Loan amount in dollars
Number of payments
Interest rate per payment period
A button to calculate the amount of the payment per period
A label for the payment amount per period
When the button is clicked, the number for the payment amount that is correct for the numbers presently in the text boxes should appear beside the label for the payment amount.
