C# GUI (Windows) - Loan Application.
Develop a Loan application GUI Windows.
Laid-back Loans is a company that offers flexible loan terms. All their loans are for 5 years (60 months) or less. The following information should be a part of the Loan class.
Customer name
Loan #
Loan Balance
Term in Months (length of the loan in months)
Year to date Interest Paid
C# GUI (Windows) - Loan Application.
Payment Due
Interest Rate
Each month, the application user can calculate the Payment Due for that month. If there is already an amount in the PaymentDue property, then the loan is overdue and the new Payment Due should be added to the existing amount along with a $35.00 late fee.
Customers who have repaid a loan with Laid-Back Loans before will be charged using simple interest:
Interest over the life of the loan = Principle * rate of interest * time of loan in years
I=P*r*t
Example:
double interestTotal = balance * interestRate * (terms / 12);
double simplePayment = (balance / terms) + (interestTotal/terms);
Customers who are new are charged compounding interest that is compounded monthly (12 times a year):
Accrued amount = Principle * (1 + (rate of interest / number of compoundings per year)) A (number of compoundings per year * number of years) where " means "to the power".
The power function in C# works like this Math.Pow(x,y) gives x^y
Example:
double accrued = balance * Math.Pow((1 + (interestRate / 12)), (12 * terms / 12));
double compoundPayment = (accrued / terms);
The application should allow for a delegate to perform the actual calculation of payments.
The application should allow for an event delegate to trigger when a loan payment is not made.
