Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y 520000 5.375 Loan amount: Interest rate: Interest amount: Continue? (y/n): n $520,000.00 5.375% $27,950.00 Enter loan amount: Enter interest rate: 1.3 4944.5 $4,944.50 1.300% $64.28 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.

Project 9-1: Interest Calculator Create a program that calculates the interest on a loan. Console Interest Calculator Enter loan amount: Enter interest rate: Loan amount: Interest rate: Interest amount: Continue? (y/n): y 520000 5.375 Loan amount: Interest rate: Interest amount: Continue? (y/n): n $520,000.00 5.375% $27,950.00 Enter loan amount: Enter interest rate: 1.3 4944.5 $4,944.50 1.300% $64.28 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

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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Concept explainers

Max Function

Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.

Power Function

A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:

Question

Project 9-1: Interest Calculator
Create a program that calculates the interest on a loan.
Console
Interest Calculator
Enter loan amount:
Enter interest rate:
Loan amount:
Interest rate:
Interest amount:
Continue? (y/n): y
Loan amount:
Interest rate:
Interest amount:
520000
5.375
Continue? (y/n): n
$520,000.00
5.375%
$27,950.00
Enter loan amount:
Enter interest rate: 1.3
4944.5
$4,944.50
1.300%
$64.28
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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