INPUT:

1. outstanding balance
2. monthly payment
3. basic interest per year
4. net income
5. amount

OUTPUT:

1. financial state
2. the number of month
3. total amount of interest

CONSTRAINTS:

1. The monthly payment is not less than 5% from the outstanding balance
2. An extra interest, 3% will be included if the number of months exceeds 12 months

PROCESS & FORMULA:

1. calculate the basic interest per month: basic interest = (interest rate/12)/100
2. calculate the payment for every month (month<=12): outstanding balance= outstanding balance*(1 + basic interest) – monthly payment
3. calculate the new interest after 12 months: new interest = basic interest + (0.03/12)
4. calculate the payment after 12 months: outstanding balance = outstanding balance*(1 + new interest) – monthly payment
5. calculate the total amount of interest if number of months is less than or equal to 12 months : total amount of interest = amountbasic interestmonth
6. calculate the total amount of interest if number of months is more than 12 months : total amount of interest = amount * new interest * month
7. calculate the financial status financial status = (monthly payment/net income)*100

Pseudocode and Flowchart.docx

Output.docx