Answer Happy

Please use NI LabView, thank you!
1) Construct a VI to compute the monthly payments required to pay off a loan and the total cost of the loan. Create three choices for the user on how the Frequency of the interest is compounded; monthly, daily and continuously to aid in selecting the right type of loan. APR Interest Compounded Monthly i = PymtFreq PaymtFreq APR Interest Compounded Daily i= - 1 (1 + 365 APR Interest Compounded Continuously i = e PymtFreq – 1 P[i(1+i)N) Payment Amount A= ((1+i)N-1] • Include two choices for Payment Frequency. Quarterly (four times per year) Monthly (twelve per year) • Include controls for the Annual Percentage Rate (APR), the original Loan Amount, and total Years of loan. The Front Panel should resemble the figure below; Compounding Frequency Payment Amount Monthly 697.87 Total Cost Payment Frequency Monthly 251232.52 APR 85 stop Loan Amount 130000 STOP Years 30