Business, 20.07.2019 05:10 hiji0206

You need to calculate the future balance of a checking account and a loan. the checking account has an initial balance, monthy contribution (income), and collects interest (compounded monthly). the loan has a pricipal, annual interest rate (compounded monthly), monthy payment, and an agreed apon total number of years until the loan is paid off (you may assume the monthly payment is correct). the loans monthly payment is transferred to the checking account every month. monthly income and the loan payment happen at the end of each month, which is also when the interest is accured. it is assumed that the loan length will always be in full years, no 6 month loans.

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You need to calculate the future balance of a checking account and a loan. the checking account has...

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