Sequence Design 3 – BankSystem

Problem: BankSystem

Specification
Develop an algorithm for a program that works out the interest to be paid in one year on an amount of money borrowed.  The program should accept as data input the amount borrowed then calculate the interest to be paid using the current rate of interest, and display the interest to be paid.Assume that the current rate of interest is 5.0%
Data Input(s) Data Processing Data Output(s)
Amount – Integer InterestDue – Real InterestDue – Real
Data Processes (Using Sample Data)
Working out a sample answer allows you to understand the processing you want the computer to carry out.  The data and answer worked out here can be used later to test the program.Amount = £100InterestRate =  5.0%InterestDue = Amount * InterestRateInterestDue = £100 * 5.0%InterestDue = £100 * 0.10

InterestDue = £10

Note: The * sign is used to indicate multiplication on the computer.

Algorithm
BeginGet Amount

Calc InterestDue as Amount * InterestRate / 100

Display ‘The interest due on this loan is ‘ InterestDue

End

Data Table

Identifier

Description

Type/Range

Amount

Amount in pounds borrowed by the customer

Integer

Interest Rate

The bank’s current rate of interest

Real Constant

InterestDue

The amount of interest to be paid by the customer

Real

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