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Problem Solving

The document contains pseudocode to calculate loan repayment amounts for different banks over varying terms. It prompts the user to input a loan amount, interest rate, number of years to repay, and bank, then calculates the monthly payment, total interest paid, and total amount paid for each selected bank option.

Uploaded by

kimesha walters
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43 views3 pages

Problem Solving

The document contains pseudocode to calculate loan repayment amounts for different banks over varying terms. It prompts the user to input a loan amount, interest rate, number of years to repay, and bank, then calculates the monthly payment, total interest paid, and total amount paid for each selected bank option.

Uploaded by

kimesha walters
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Start

Input const loan_amount

Input int_rate

Input years_to_repay

Input bank_name

Read loan_amount, int_rate, years_to_repay, bank_name

REPEAT

Display ‘Enter Bank Letter A,B, or C. Enter ‘X’ to exit ’

Enter bank_name

IF bank_name=A

Int_rate=0.0725/12

Years_to_repay=3

Months_to_repay=36

Monthly_payment_amt= loan_amount*int_rate*years_to_repay+

loan_amonut/months_to_repay

total_amount_paid= monthly_payment_amount*months_to_repay

total_int_paid=total_amount_paid-loan_amount

PRINT monthly_payment_ amount

PRNIT total_amount_paid

PRINT total_int_paid

ELSE IF bank_name=B

Int_rate=0.0675/12

Years_to_repay=4

Months_to_repay=48

Monthly_payment_amt= loan_amount*int_rate*years_to_repay+
loan_amonut/months_to_repay

total_amount_paid= monthly_payment_amount*months_to_repay

total_int_paid=total_amount_paid-loan_amount

PRINT monthly_payment_ amount

PRNIT total_amount_paid

PRINT total_int_paid

ELSE IF bank_name=C

Int_rate=0.0645/12

Years_to_repay=5

Months_to_repay=60

Monthly_payment_amt= loan_amount*int_rate*years_to_repay+

loan_amonut/months_to_repay

total_amount_paid= monthly_payment_amount*months_to_repay

total_int_paid=total_amount_paid-loan_amount

PRINT monthly_payment_ amount

PRNIT total_amount_paid

PRINT total_int_paid

END IF

UNTIL Bank_letter = ‘X’

END
Loan Bank Interest Number Monthly Total int paid Total amount paid
amount rate of years payment
per to
year repay

12,000 A 7.25 3 371.90 1,388.34 13,388.34

12,000 B 6.75 4 285.97 1,726.33 13,726.33

12,000 C 6.45 5 234.51 2,070.77 14,070.77

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