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Q2. The simple interest on a loan is calculated by the formula interest principal rate * days365 The preceding formula assumes that rate is the
Q2. The simple interest on a loan is calculated by the formula interest principal rate * days365 The preceding formula assumes that rate is the annual interest rate, and therefore includes the division by 365 (days). Develop a program that will input principal, rate and days for several loans, and will calculate and display the simple interest for each loan, using the preceding formula Keep a sentinel value to terminate taking input. Here is a saraple input/output dialog Enter loan principa: 1000.00 Enter interest rate: 1 Enter term of the loan in days 365 The interest charge is $100.00
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