Programming Assignment #2

Programming Assignment #2 - Page 1 of 3 Assignment 2...

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Page 1 of 3 Assignment 2 Manipulating Numeric Data EE312 - The University of Texas at Austin - Spring 2008 Assigned: Tuesday, Jan. 29 Due: Thursday February 7 before midnight. Value: 20 points (for correctness of the program) File submitted: submit (upload) the final version of your C source code file (.c file) to the Blackboard’s assignment manager for this assignment of your section of this course. Purposes: to learn how to input and output numeric values using formatted IO commands to learn how to define and symbolically manipulate numeric data to learn how to use program control statements to perform looping and decision making The problem: We take a loan for many things that we buy. For this assignment we will create a simplified loan banking information system. The system will provide the following capabilities to the customer (user). 1. Case 1: It will calculate and report the estimated monthly installment (EMI) for the required loan principal for a loan of a given term. The borrower will pay simple interest on the loan of a fixed rate of 20% of the loan amount. [ Economics note: In this example, we’re using simple interest to keep the calculations relatively straightforward. Real loans are based on compounding interest. ] 2. Case 2: In the case that the customer wants to pay more than the EMI each month (e.g., a fixed percentage of EMI additionally) then the system will calculate the way that the monthly payments correspondingly decrease over the term of the loan. [ Economics note: In this example, there is no real benefit to the borrower in paying early on his loan. This is because, to keep the example simple, we’re not recalculating the interest when the borrower prepays. In the real world with compounding interest, the amount paid to the lender would reduce if the borrower pre-paid. ] Your program will need to perform the following input, process, and output steps
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Programming Assignment #2 - Page 1 of 3 Assignment 2...

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