To illustrate the use of classes, write a program thatimplements two different types of mortgages:
A fixed-rate mortgage: This is a conventional loan that isdefined by the loan amount, the annual interest rate (APR), and thenumber of years.
A fixed-rate mortgage with points: This is a type of mortgage inwhich borrowers can get lower interest rates by paying “points” tothe lender at the time they took the mortgage. Instead of reducingthe amount of the loan, the “points” money goes to reduce theinterest owed.
In both types of mortgage, the monthly payment is given by theformula:
A=P[i(1+i)N(1+i)N−1]
where A is the monthly
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