Write a program that will take three inputs:
Negotiating a consumer loan is not always straightforward. One form of the loan is the discount installment loan, which works as follows.
Suppose a loan has a face value $1,000.00, the interest rate is 15%, and the duration is 18 months. The interest rate is computed by multiplying the face value of $1,000.00 by 0.15 to yield $150.00. This figure is then multiplied by the loan period of 1.5 years to yield $225.00 as the total interest owned. The amount is immediately deducted from the face value, leaving the consumer with only $775.00.
Repayment is made in equal monthly installment based on the face value. Hence, the monthly loan payment will be $1,000.00 divide by 18, which is $55.56. This method of calculation may not be too bad if the consumer needs $775.00 dollars, but the calculation is a bit more complicated if the customer needs $1000.00.
Write a program that will take three inputs:
- the amount the consumer needs to receive
- the interest rate
- the duration of the loan in months
The program should then calculate the face value required in order for the consumer to receive the amount needed.
Suppose a loan has a face value $1,000.00, the interest rate is 15%, and the duration is 18 months. The interest rate is computed by multiplying the face value of $1,000.00 by 0.15 to yield $150.00. This figure is then multiplied by the loan period of 1.5 years to yield $225.00 as the total interest owned. The amount is immediately deducted from the face value, leaving the consumer with only $775.00.
Repayment is made in equal monthly installment based on the face value. Hence, the monthly loan payment will be $1,000.00 divide by 18, which is $55.56. This method of calculation may not be too bad if the consumer needs $775.00 dollars, but the calculation is a bit more complicated if the customer needs $1000.00.
Write a program that will take three inputs:
- the amount the consumer needs to receive
- the interest rate
- the duration of the loan in months
The program should then calculate the face value required in order for the consumer to receive the amount needed.
closed account (o3hC5Di1)
Hi there,
First off - It's considered general courtesy to at least provide some information with your question, jsut posting the assignment you have makes us feel like we're being addressed as forced labourers - which we're not.
I've broken down your assignment into smaller blocks with some explanation in order to get you started:
This gives you a great workflow for your program.
First, you will need to declare three variables, to hold the three inputs.
Then, for every output you need to output a question to the screen asking for the correct input, then storing that input in the corresponding variable.
Once you have all the data you need, it's time to calculate the face value:
This is the algorithm you need to calculate the face value.
You will need to change this text into a mathematical formula, which uses the aforementioned variables rather than the figures given in the text.
Finally, output the face value to the screen.
Hope that helps, if you have any further questions, fire away, if you expect us to do this for you, as other before me said, you've come to the wrong place.
All the best,
NwN
First off - It's considered general courtesy to at least provide some information with your question, jsut posting the assignment you have makes us feel like we're being addressed as forced labourers - which we're not.
I've broken down your assignment into smaller blocks with some explanation in order to get you started:
| susette wrote: |
|---|
| Write a program that will take three inputs: - the amount the consumer needs to receive - the interest rate - the duration of the loan in months The program should then calculate the face value required in order for the consumer to receive the amount needed. |
This gives you a great workflow for your program.
First, you will need to declare three variables, to hold the three inputs.
Then, for every output you need to output a question to the screen asking for the correct input, then storing that input in the corresponding variable.
Once you have all the data you need, it's time to calculate the face value:
| susette wrote: |
|---|
| Suppose a loan has a face value $1,000.00, the interest rate is 15%, and the duration is 18 months. The interest rate is computed by multiplying the face value of $1,000.00 by 0.15 to yield $150.00. This figure is then multiplied by the loan period of 1.5 years to yield $225.00 as the total interest owned. The amount is immediately deducted from the face value, leaving the consumer with only $775.00. |
This is the algorithm you need to calculate the face value.
You will need to change this text into a mathematical formula, which uses the aforementioned variables rather than the figures given in the text.
Finally, output the face value to the screen.
Hope that helps, if you have any further questions, fire away, if you expect us to do this for you, as other before me said, you've come to the wrong place.
All the best,
NwN
Topic archived. No new replies allowed.