Loan Calculator

Question

Loan Calculator

You take a loan from a friend and need to calculate how much you will owe him after 3 months.
You are going to pay him back 10% of the remaining loan amount each month.
Create a program that takes the loan amount as input, calculates and outputs the remaining amount after 3 months.

Sample Input:
20000

Sample Output:
10628

Here is the monthly payment schedule:
Month 1
Payment: 10% of 20000 = 2000
Remaining amount: 18000
Month 2
Payment: 10% of 18000 = 1800
Remaining amount: 16200
Month 3:
Payment: 10% of 16200 = 1620
Remaining amount: 14580

The condition is that we must use integer data type to store the variables and their values and not double or float data types.

The problem here is that integer data type won't give you the correct answer, according to my code.

I did try declaring the variables with double data type and got the correct answer but the system isn't accepting it due the aforementioned condition.

Any help would be much appreciated!

Answer 1

import java.util.*;
public class Program{
public static void main(String []args){
int TOTAL_MONTHS = 3;
Scanner input = new Scanner(System.in);

System.out.print("Enter amount borrowed: ");
double amountBorrowed = input.nextDouble();
double remainingAmount = 0;
double returnedPerMonth = 0;
while (TOTAL_MONTHS != 0) {
returnedPerMonth = amountBorrowed * 0.1;
remainingAmount = amountBorrowed - returnedPerMonth;
amountBorrowed -= returnedPerMonth;
TOTAL_MONTHS--;
System.out.println("The remaining amount is: " + remainingAmount);
}
}
}

Answer 2

Qudrat Jan The expected output is correct at 14580 unless your question is wrong. It cannot be 10628.

Answer 3

Qudrat Jan

Without attempts don't think to get help. So where is your attempts?

Answer 4

Qudrat Jan

Don't print anything except only value and also don't print inside loop. You have to print outside the loop.

Answer 5

That should not be an issue at all since it's only a value. Additionally, I wanted to check the value of the remainingAmount variable to analyze the program.