Narrowed Topic And Research Questions: Write The Broad Topic

Narrowed Topic And Research Questions1 Write The Broad Topic You Sele

The assignment involves developing a C++ program to create a mortgage calculator that determines monthly payments and produces an amortization schedule for 10-, 15-, and 30-year fixed loans. The program must include input validation, recursion for generating the amortization schedule, proper formatting, and error checking.

Paper For Above instruction

The proposed research focuses on the development and validation of a C++ based mortgage calculator aimed at assisting loan officers in accurately presenting loan options to customers. This study aims to explore the implementation of recursive functions to generate an amortization schedule, ensuring correctness, efficiency, and robustness in handling user input errors. The research is grounded in the context of the current advancements in financial software development, emphasizing modular programming, input validation, and recursion techniques.

The primary objective of this research is to analyze how recursive algorithms can be effectively utilized to produce detailed amortization schedules that display the interest and principal components of each payment over the life of the loan. The research questions guiding this study are: (1) How can recursion be effectively implemented to generate an accurate amortization schedule in C++? (2) What are the best practices for input validation and error handling in financial applications to prevent erroneous calculations? (3) How does modular programming contribute to the maintainability and accuracy of financial software? and (4) How can formatting and presentation enhance user understanding of loan repayment structures?

To achieve these objectives, the study will first review relevant literature on recursion in programming, financial calculation algorithms, and input validation techniques. Next, a robust C++ program will be designed following best practices for modular, readable, and error-resistant code. The program will prompt the user to input the loan principal, annual interest rate, and loan term, with validation routines to ensure correctness. The core calculation will be performed in a dedicated function, CalcPayment, which utilizes the amortization formula to compute monthly payments. This function will be tested against known benchmarks to validate its accuracy.

Furthermore, a recursive function named Amortize will be developed to generate and display the amortization schedule. This function will print each payment’s breakdown into interest and principal, updating the remaining balance after each iteration. The recursion will serve as an elegant means to traverse the schedule, terminating once all payments are processed. This approach emphasizes the recursive paradigm’s suitability for such iterative financial calculations, illustrating clear and concise code structure.

In addition to implementing the core functionality, the research will scrutinize various error conditions, including non-numeric inputs and negative values, implementing error loops and input validations—an essential aspect for real-world financial software. The formatting of output will be designed to be clear, precise, and user-friendly, aiding loan officers in making informed decisions.

Finally, the research will evaluate the software’s performance on different loan scenarios, comparing the generated amortization schedules to manual calculations or benchmark software. The findings will demonstrate the effectiveness of recursion in financial computations, the importance of robust input validation, and the benefits of modular programming. Conclusively, the study aims to contribute to the body of knowledge in financial software development, emphasizing recursive techniques and best practices for input validation and presentation.

References

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