Write a program that will give the interest rate for a new car loan based on a credit score.
Credit score Interest Rate
850-720 5.56%
719-690 6.38%
660 689 7.12%
625-659 9.34%
590-624 12.45%
Below 590 no credit issued.
Display the user input credit score and the interest rate associated with the credit score.
To write a program that determines the interest rate for a new car loan based on a credit score, you can use conditional statements to check the credit score range and assign the corresponding interest rate. Here's an example implementation in Python:
```python
def calculate_interest_rate(credit_score):
if credit_score >= 720 and credit_score <= 850:
return 5.56
elif credit_score >= 690 and credit_score <= 719:
return 6.38
elif credit_score >= 660 and credit_score <= 689:
return 7.12
elif credit_score >= 625 and credit_score <= 659:
return 9.34
elif credit_score >= 590 and credit_score <= 624:
return 12.45
elif credit_score < 590:
return "No credit issued"
else:
return "Invalid credit score"
def main():
credit_score = int(input("Enter the credit score: "))
interest_rate = calculate_interest_rate(credit_score)
print("Credit Score: ", credit_score)
if isinstance(interest_rate, str):
print(interest_rate)
else:
print("Interest Rate: ", interest_rate, "%")
if __name__ == "__main__":
main()
```
In this program, we define a function `calculate_interest_rate()` that takes the credit score as an argument and returns the corresponding interest rate based on the range. We then define a `main()` function to get the user's input credit score, call the `calculate_interest_rate()` function, and display the result.
Note that the program checks for invalid credit scores or scores that fall outside any of the predefined ranges and returns an error message in those cases.