The loan calculator one

Question

Can anyone please help me with the loan calculator one? Please explain the code used in detail. Thank you.

Answer 1

Use conditional statements and switch, break and apply the loan calculating formula

EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.