3.A credit card company currently has three member levels,Platinum, Gold, and Si

Question

3.A credit card company currently has three member levels,Platinum, Gold, and Silver. Each credit card has a different interest rate:

• Platinum member: 1% per month

• Gold member: 2% per month

• Silver member: 3% per month

If Platinum or Gold level customers make a late payment, then their interest rate for the month doubles. For example, if a Platinum member is late, then his interest rate increases from 1% to 2% for the month. If a Silver level customer is late on a payment, their interest rate does not increase. Instead, they are assessed a flat $20 penalty for being late.

For this assignment, you will write a program that calculates the minimum payment, which is 2% of the principle plus any interest and fees. You will also need to calculate the percentage of the payment that goes to the principle. This is given by percentToPrinciple=100*(paymentToPrinciple/totalPayment)

Explanation / Answer

Source Code:

#include <iostream>
using namespace std;

int main()
{
int n,principle,min_payment,percentToPrinciple;
cout<<"enter your member level-";
cout<<"1 for Platinum member,2 for Gold member,3 for Silver member:";
cin>>n;
cout<<"enter principle";
cin>>principle;
switch(n)
{
case 1:
min_payment=(2/100)*(principle+(1/100)*principle);
cout<<"minimum payment is:"<<min_payment;
percentToPrinciple=100*(min_payment/principle);
cout<<"percentToPrinciple is:"<<percentToPrinciple;
break;
  
case 2:
min_payment=(2/100)*(principle+(2/100)*principle);
cout<<"minimum payment is:"<<min_payment;
percentToPrinciple=100*(min_payment/principle);
cout<<"percentToPrinciple is:"<<percentToPrinciple;
break;
  
case 3:
min_payment=(2/100)*(principle+(3/100)*principle);
cout<<"minimum payment is:"<<min_payment;
percentToPrinciple=100*(min_payment/principle);
cout<<"percentToPrinciple is:"<<percentToPrinciple;
break;
  
default:
cout<<"enter avalid member level";
break;
}
   return 0;
}

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