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Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 $520,000.00 5.375% Loan amount: Interest rate: Interest amount: $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 Loan amount: $4,944.50 Interest rate: 1.300% Interest amount: $64.28 Continue? (y/n) : n 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.

Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 $520,000.00 5.375% Loan amount: Interest rate: Interest amount: $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 Loan amount: $4,944.50 Interest rate: 1.300% Interest amount: $64.28 Continue? (y/n) : n 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.

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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The outcome should look like the attachment which include the spacing. It should have a Main and functions.

Thanks in advance.

Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 Loan amount: $520,000.00 Interest rate: 5.375% Interest amount: $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 $4,944.50 1.300% Loan amount: Interest rate: Interest amount: $64.28 Continue? (y/n): n 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.
Transcribed Image Text:Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: 520000 Enter interest rate: 5.375 Loan amount: $520,000.00 Interest rate: 5.375% Interest amount: $27,950.00 Continue? (y/n): y Enter loan amount: 4944.5 Enter interest rate: 1.3 $4,944.50 1.300% Loan amount: Interest rate: Interest amount: $64.28 Continue? (y/n): n 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.
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