Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Develop a flowchart or develop pseudocode that will design an application for Bob's E-Z Loans. Input: client's account number, client's loan amount, monthly payment amount
Develop a flowchart or develop pseudocode that will design an application for Bob's E-Z Loans. Input: client's account number, client's loan amount, monthly payment amount Processing: After the monthly payment is made, a finance charge of 1 percent is added to the balance to calculate the new loan balance. Output: client's account number, the word "Month" and the month number (Month 1, Month 2, Month 3 etc.) and the new loan balance. Create a loop in the detail module to output the information for each month as long as the loan balance is greater than 0. You will need a counter (month) which you would increment each time through the loop for the month number. Once the balance is zero or less, return to the main program logic to check to see if there is another client to process (end of file test). If so, control would pass back to the detail module to process the next client. Decide on a sentinel value to end the program. You could check the client number for -99 which indicates there are not more clients to process. Be sure you have the main program logic and then a housekeeping(), a detail), and a finish() (endOfJob() modules. C5 Flowchart #1 Criteria Ratings Pts Input variables 2 pts Full Marks O pts No Marks 2 pts Create loop to calculate balance until paid off 4 pts Full Marks O pts No Marks 4 pts Calculate balance by subtracting payment amount 2 pts Full Marks O pts No Marks 2 pts Calculate balance to include interest rate 3 pts Full Marks O pts No Marks 3 pts Output variables 2 pts Full Marks O pts No Marks 2 pts Overall logic 5 pts Full Marks O pts No Marks 5 pts Includes main program, housekeeping, detail, and endOfJob modules 2 pts Full Marks O pts No Marks 2 pts
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started