The simple interest on a loan is calculated by the formula • Interest=principal * rate * days / 365 The preceding formula assumes that rate is the annual interest rate, and therefore it should include 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. Also, Program must be continued until you enter -1. • You should print interest rate in 2 decimal points format (ex| 100

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
icon
Related questions
Question
The simple interest on a loan is calculated by the formula
• Interest=principal * rate * days / 365
The preceding formula assumes that rate is the annual interest rate,
and therefore it should include 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. Also, Program must be continued until you enter
-1.
• You should print interest rate in 2 decimal points format (ex| 100
Transcribed Image Text:The simple interest on a loan is calculated by the formula • Interest=principal * rate * days / 365 The preceding formula assumes that rate is the annual interest rate, and therefore it should include 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. Also, Program must be continued until you enter -1. • You should print interest rate in 2 decimal points format (ex| 100
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Knowledge Booster
Mathematical functions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Database System Concepts
Database System Concepts
Computer Science
ISBN:
9780078022159
Author:
Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:
McGraw-Hill Education
Starting Out with Python (4th Edition)
Starting Out with Python (4th Edition)
Computer Science
ISBN:
9780134444321
Author:
Tony Gaddis
Publisher:
PEARSON
Digital Fundamentals (11th Edition)
Digital Fundamentals (11th Edition)
Computer Science
ISBN:
9780132737968
Author:
Thomas L. Floyd
Publisher:
PEARSON
C How to Program (8th Edition)
C How to Program (8th Edition)
Computer Science
ISBN:
9780133976892
Author:
Paul J. Deitel, Harvey Deitel
Publisher:
PEARSON
Database Systems: Design, Implementation, & Manag…
Database Systems: Design, Implementation, & Manag…
Computer Science
ISBN:
9781337627900
Author:
Carlos Coronel, Steven Morris
Publisher:
Cengage Learning
Programmable Logic Controllers
Programmable Logic Controllers
Computer Science
ISBN:
9780073373843
Author:
Frank D. Petruzella
Publisher:
McGraw-Hill Education