Question
Use your knowledge of algorithm development to create a program using Raptor to solve the problem below. For this section, do not use modular programming
Use your knowledge of algorithm development to create a program using Raptor to solve the problem below. For this section, do not use modular programming in Raptor. Sara wants to buy a car. Help Sara compute the monthly payment on a loan. You have the following data: 1. You will be given the loan amount, the annual percentage rate of interest, and number of monthly payments. 2. Your program should allow Sara to input the loan amount, interest rate, and how many payments she wants to make. 3. Your program should then compute and display the monthly payment. 4. You need to make the following variables: Payment, LoanAmt, InterestRate, MonthlyRate, NumberMonths. 5. You will need the following formula: MonthlyRate = InteresteRate/1200 6. When the user enters InterestRate as a percentage, it must be divided by 100 to make it a decimal (i.e., 18% = 18/100 = 0.18). 7. The InterestRate offered by car dealers is an annual rate so this must be divided by 12 to get the MonthlyRate. 8. The formula in step 5 combines steps 6 and 7 (i.e., annual rate of 18% = 18/100 =0.18 and the monthly rate is 0.18/12=0.015 or 18/(100*12) = 18/1200.) 9. Payment = LoanAmt * MonthlyRate * (1 + MonthlyRate)^NumberMonths / ((1+MonthlyRate)^NumberMonths 1) o This formula must be entered correctly for it to calculate the correct answer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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