Question

Please complete is question as a pseudocode and flowchart for Java. 12.5 (College Loan Payoff Calculator App) A bank offers college loans that can be repaid in 5,10, 15, 20, 25, or 30 years. Write an app that allows the user to enter the amount of the loan and the annual interest rate. Based on these values, the app should display the loan lengths in years and their corresponding monthly payments.

Need pseudocode flowchart only!

Answer 1

Hii.. I have written the sample program and attach the flowchart for the above.

LoanCalculator.java

import java.util.*;

public class LoanCalculator{

public static void main(String []args)

{

Scanner X = new Scanner(System.in);

double principal, rate, time, emi;

System.out.print("Enter amount of loan: ");

principal = X.nextFloat();

System.out.print("Enter intrest rate: ");

double rate1 = X.nextFloat();

for(int i=5;i<=30;i=i+5){

time = (double)i;

rate=rate1/(12*100);

time=time*12;  

emi= (principal*rate*Math.pow(1+rate,time))/(Math.pow(1+rate,time)-1);

System.out.println("Number of years:"+i);

System.out.print("Monthly EMI is= "+emi+"\n");

System.out.println("Total amount after "+i+" years:"+(emi*time));

}

  

time = X.nextFloat();

}

}

Output:

Enter amount of loan: 100000
Enter intrest rate: 8.35
Number of years:5
Monthly EMI is= 2044.4313070761866
Total amount after 5 years:122665.8784245712
Number of years:10
Monthly EMI is= 1231.8489062681278
Total amount after 10 years:147821.86875217533
Number of years:15
Monthly EMI is= 975.9668064070171
Total amount after 15 years:175674.02515326306
Number of years:20
Monthly EMI is= 858.3529863355043
Total amount after 20 years:206004.71672052104
Number of years:25
Monthly EMI is= 795.1439677668612
Total amount after 25 years:238543.19033005837
Number of years:30
Monthly EMI is= 758.3082711422303
Total amount after 30 years:272990.9776112029

Please test the above and let me know any issues. Thank you. All the best.