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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