Our company provides interest free loans up to 10,000.00 to our employees. They want to generate a payment schedule. Promptforloan amount and loan payment, both in whole dollars. Calculate the numberofequal monthly payments. The balance after generating the payment schedule based on the number of equal monthly payments is the outstanding balance. Use a FOR LOOP to display the payment schedule and outstanding balance as shown below.

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
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Exercise 3
Our company provides interest free loans up to 10,000.00 to our employees. They want to generate a payment
schedule. Prompt for loan amount and loan payment, both in whole dollars. Calculate the numberof equal
monthly payments. The balance aftergenerating the payment schedule based on the number of equal monthly
payments is the outstanding balance. Use a FOR LOOP to display the payment schedule and outstanding balance
as shown below.
Input:
:ENTER_LOAN_AMOUNT
: ENTER_LOAN_PAYMENT
5000
435
Output:
Loan Amount: $5,000.00
Loan Payment: $435.00
Equal Payments: 11
Рaynenta
Balance
4, 565.00
4,130.00
3,695.00
3, 260.00
2,825. 0e
2,390.00
1
2
1,955.00
1,520. 00
1,085.00
7
9.
10
650.00
11
215.00
Outstanding balance: $215.00
Transcribed Image Text:Exercise 3 Our company provides interest free loans up to 10,000.00 to our employees. They want to generate a payment schedule. Prompt for loan amount and loan payment, both in whole dollars. Calculate the numberof equal monthly payments. The balance aftergenerating the payment schedule based on the number of equal monthly payments is the outstanding balance. Use a FOR LOOP to display the payment schedule and outstanding balance as shown below. Input: :ENTER_LOAN_AMOUNT : ENTER_LOAN_PAYMENT 5000 435 Output: Loan Amount: $5,000.00 Loan Payment: $435.00 Equal Payments: 11 Рaynenta Balance 4, 565.00 4,130.00 3,695.00 3, 260.00 2,825. 0e 2,390.00 1 2 1,955.00 1,520. 00 1,085.00 7 9. 10 650.00 11 215.00 Outstanding balance: $215.00
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