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Question 5 – Programming and Algorithms 5.1 Your part…
Question 5 – Programming and Algorithms 5.1 Your part time job is going well and you now have a few businesses as clients that provide you with a guaranteed monthly income of R3 000. However, you have transport problems to get to your clients. You decide to buy a motorbike. The cost of the motorbike is R10 000. Write an algorithm to determine the number of months it will take you to pay off the motorbike if you pay R2 000 per month at an interest rate of 12% per year, calculated at the beginning of every month on the outstanding amount. Use the following variables: amount Amount outstanding payment Monthly payment rate Interest rate numMonths Number of months interest Monthly interest to be paid.
Question 5 – Programming and Algorithms 5.1 Your part…
Questions
Questiоn 5 – Prоgrаmming аnd Algоrithms 5.1 Your pаrt time job is going well and you now have a few businesses as clients that provide you with a guaranteed monthly income of R3 000. However, you have transport problems to get to your clients. You decide to buy a motorbike. The cost of the motorbike is R10 000. Write an algorithm to determine the number of months it will take you to pay off the motorbike if you pay R2 000 per month at an interest rate of 12% per year, calculated at the beginning of every month on the outstanding amount. Use the following variables: amount Amount outstanding payment Monthly payment rate Interest rate numMonths Number of months interest Monthly interest to be paid. [9]
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