Mary Smith, a student, has borrowed $3,000 to help pay her college expenses. After setting up a budget, $85 was the maximum monthly payment she could afford to make on the loan. Develop a solution to calculate and print the interest, the principal, and the balance on the loan per month. Other information she would like to know is the number of years and months it will take to pay the loan back and the total interest she will pay during that period. The interest rate is 1% per month on the unpaid balance. Keep in mind these formulas: 1. interest normal = balance*interest rate 2. payment = balance – interest 3. new balance = balance - payment 1. How many variables will you declare in your program? Declare these variables with proper naming conventions and appropriate datatype.
2. What are the computational steps for converting mph into minutes and seconds per mile?
Demonstrate your steps with three different scenarios.
3. Draw & Write Algorithm/Flowchart/Pseudocode of your solution .