Question

Write an algorithm that gets as input your current credit card balance, the total dollar amount of new purchases, and the total dollar amount of all payments. The algorithm computes the new balance, which this time includes an 8% interest charge on any unpaid balance below $100 , 12% interest on any unpaid balance between $100 and $500, inclusive, and 16% on any unpaid balance about $500.

Answer 1

Answer:

balance = float(input("Enter the current credit card balance: "))

purchases = float(input("Enter the amount of new purchases: "))

payments = float(input("Enter the amount of all payments: "))

unpaid = purchases - payments

if unpaid >= 0 and unpaid < 100:

   balance = balance + payments - purchases - (unpaid * 0.08)

elif unpaid >= 100 and unpaid <= 500:

   balance = balance + payments - purchases - (unpaid * 0.12)

else:

   balance = balance + payments - purchases - (unpaid * 0.16)

   

print("The balance is " + str(balance))

Explanation:

*The code is in Python.

Ask the user to enter the balance, amount of purchases, and amount of payments

Calculate the unpaid balance, subtract payments from purchases

Check the unpaid balance. If it is smaller than 100, calculate the new balance, add payments, subtract purchases and the 8% interest of unpaid balance. If it is between 100 and 500, calculate the new balance, add payments, subtract purchases and the 12% interest of unpaid balance. If it is greater than 500, calculate the new balance, add payments, subtract purchases and the 16% interest of unpaid balance

Print the balance