Write a program to compute the interest due, total amount dueand the minimum pay

Question

Write a program to compute the interest due, total amount dueand the minimum payment for a revolving credit account.

The program accepts the account balance input, then adds on theinterest to get the total amount due. The rate schedules arethe following:

The interest rate is 1.5% on the first $1000 and 1% on any amountover that. The minimum payment is the total amount due ifthat is $10 or less; otherwise it is $10 or 10% of the total amountowed, whichever is larger.

Your program should include a loop that lets the user repeat thiscalculation until the user says she or he is done.

Basically, I just need help starting this off. ShouldI use a while loop, if statements and nested if's for the interestrate? I'm sort of stuck, so any help on this would begreat! Thanks!

Write a program to compute the interest due, total amount dueand the minimum payment for a revolving credit account.

The program accepts the account balance input, then adds on theinterest to get the total amount due. The rate schedules arethe following:

The interest rate is 1.5% on the first $1000 and 1% on any amountover that. The minimum payment is the total amount due ifthat is $10 or less; otherwise it is $10 or 10% of the total amountowed, whichever is larger.

Your program should include a loop that lets the user repeat thiscalculation until the user says she or he is done.

Basically, I just need help starting this off. ShouldI use a while loop, if statements and nested if's for the interestrate? I'm sort of stuck, so any help on this would begreat! Thanks!

Explanation / Answer

please rate - thanks only change I made was to initialize the loop so that response hada value the first time through You could have had a do{   }while I've also put theanswer with a do...while loop, then you don't need to initializethe loop with while loop # include using namespace std; int main () { double interest_due, total_amount_due, min_payment,account_balance; char response='y'; while ( response == 'y' || response == 'Y' ) { cout.setf(ios::fixed); cout.setf(ios::showpoint); cout.precision(2); cout

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