Problem Statement: You are required to write a program that lets the user enter the loan amount and loan period in number of years and displays the monthly and total payments for each interest rate starting from 3.50% to 8.00%, with an increment of 0.25. If you enter the loan amount 5,000 for five years, it will display a table as follows:
What is the main purpose of developing this program? Elaborate your steps to solve the problem and determine the input, process and output for the program. Finally write a pseudo-code and draw a flowchart to solve this problem.
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Expert's answer
2012-05-18T10:59:06-0400
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