Th e No Interest Credit Company provides zero-interest
loans to customers. Design an application that gets
customer account data, including an account number,
customer name, and balance due. Output the account
number and name, then output the customer’s projected
balance each month for the next 10 months. Assume
that there is no fi nance charge on this account, that the
customer makes no new purchases, and that the customer
pays off the balance with equal monthly payments, which
are 10 percent of the original bill.
To design an application that accomplishes this task, you can follow these steps:
1. Start by creating a user interface where you can input the customer's account data. You can use a graphical user interface (GUI) or a command-line interface (CLI) based on your preference and the programming language you are using.
2. Prompt the user to enter the account number, customer name, and balance due. Depending on the programming language, you can use labels or prompts to guide the user in entering the data.
3. Store the inputted data in variables for later use. You can use data structures like arrays or objects to store multiple customers' data if needed.
4. After obtaining the customer's data, you can then proceed to calculate the monthly balance for the next 10 months. To do this, create a loop that iterates 10 times, representing each month.
5. Inside the loop, calculate the projected balance for the current month using the formula: projected_balance = balance_due * (1 - 0.1). This formula deducts 10 percent from the previous month's balance.
6. Display the account number, customer name, and projected balance for each month. You can either print the information to the console or display it in the GUI, depending on your chosen interface.
7. Repeat the above steps for each customer if you are handling multiple customers' data.
Overall, the application should provide a user interface to enter customer data and then use a loop to calculate and display the projected monthly balances for the next 10 months. Remember to handle any potential input validation and error checking to ensure accurate results.
To design the application that calculates the projected balance for the next 10 months, you can follow these steps:
Step 1: Get the customer account data
- Prompt the user to enter the account number, customer name, and balance due.
Step 2: Calculate the monthly payment amount
- Multiply the balance due by 10% (0.10) to get the monthly payment amount.
Step 3: Output the account number and name
- Print the account number and customer name to display the account details.
Step 4: Calculate and output the projected balance for each month
- Use a loop to iterate over the next 10 months.
- Subtract the monthly payment amount from the balance due each month.
- Print the month number and the updated balance due for each month.
Here's a sample implementation in Python:
```python
# Step 1: Get customer account data
account_number = input("Enter the account number: ")
customer_name = input("Enter the customer name: ")
balance_due = float(input("Enter the balance due: "))
# Step 2: Calculate monthly payment amount
monthly_payment = balance_due * 0.10
# Step 3: Output account number and name
print("Account Number:", account_number)
print("Customer Name:", customer_name)
# Step 4: Calculate and output projected balance for each month
for month in range(1, 11):
balance_due -= monthly_payment
print(f"Month {month}: Projected Balance = ${balance_due:.2f}")
```
Make sure to replace the input() statements with appropriate user input functions based on the programming language you are using.