Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y 520000 5.375 Loan amount: Interest rate: Interest amount: Continue? (y/n): n $520,000.00 5.375% $27,950.00 Enter loan amount: Enter interest rate: 1.3 4944.5 $4,944.50 1.300% $64.28 Bye! Specifications The formula for calculating the interest amount is: loan_amount (interest rate / 100) Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. Assume that the user will enter valid decimal values for the loan amount and interest rate.
Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y 520000 5.375 Loan amount: Interest rate: Interest amount: Continue? (y/n): n $520,000.00 5.375% $27,950.00 Enter loan amount: Enter interest rate: 1.3 4944.5 $4,944.50 1.300% $64.28 Bye! Specifications The formula for calculating the interest amount is: loan_amount (interest rate / 100) Use the Decimal class to make sure that all calculations are accurate. It should round the interest that's calculated to two decimal places, rounding up if the third decimal place is five or greater. • The interest rate that's displayed can have up to 3 decimal places. Assume that the user will enter valid decimal values for the loan amount and interest rate.
Chapter8: Arrays
Section: Chapter Questions
Problem 5GZ
Related questions
Concept explainers
Max Function
Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.
Power Function
A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.Recommended textbooks for you
EBK JAVA PROGRAMMING
Computer Science
ISBN:
9781337671385
Author:
FARRELL
Publisher:
CENGAGE LEARNING - CONSIGNMENT
EBK JAVA PROGRAMMING
Computer Science
ISBN:
9781305480537
Author:
FARRELL
Publisher:
CENGAGE LEARNING - CONSIGNMENT
EBK JAVA PROGRAMMING
Computer Science
ISBN:
9781337671385
Author:
FARRELL
Publisher:
CENGAGE LEARNING - CONSIGNMENT
EBK JAVA PROGRAMMING
Computer Science
ISBN:
9781305480537
Author:
FARRELL
Publisher:
CENGAGE LEARNING - CONSIGNMENT