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Solnce55 [7]
3 years ago
9

Write a program to read customer number, Name, loan amount, interest rate and time of repayment. Calculate and display the EMI .

To calculate EMI, calculate interest amount using formula: Interest amount = loan amount(1+ rate/100)time . Then add Interest amount to loan amount and divide by time (in months).
Computers and Technology
1 answer:
kompoz [17]3 years ago
6 0

Answer:

The programming language is not stated; however, I'll answer this question using Python programming language.

This program doesn't make use of comments (See Explanation Section for detailed explanation)

The program is as follows

name = input("Customer Name: ")

number = input("Customer Number: ")

loan = float(input("Loan Amount: "))

rate = float(input("Interest Rate: "))

time = int(input("Repayment Time [in months] : "))

Interest = loan * (1 + rate/100) ** time

EMI = (Interest + loan)/time

print("EMI: ", end='')

print(round(EMI,2))

Explanation:

This line prompts for customers' name

name = input("Customer Name: ")

This line prompts for customers'number

number = input("Customer Number: ")

This line prompts for loan amount

loan = float(input("Loan Amount: "))

The line prompts for the interest rate

rate = float(input("Interest Rate: "))

This line prompts for time of loan repayment

time = int(input("Repayment Time [in months] : "))

Using the given formula, this line calculates the interest amount

Interest = loan * (1 + rate/100) ** time

The EMI is calculated using this line

EMI = (Interest + loan)/time

This line prints the string "EMI: " without the quotes

print("EMI: ", end='')

The last line of the program prints the calculated value of EMI, rounding it up to 2 decimal places

print(round(EMI,2))

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Explanation:

The source code file for the program has also been attached to this response for readability. Please download the file and go through the comments in the code carefully as it explains every segment of the code.

Hope this helps!

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