Question

You take a loan from a friend and need to calculate how much you will owe him after 6 months. You are going to pay him back 10% of the remaining loan amount each month.

Create a program in java that takes the loan amount as input, calculates and outputs the remaining amount after 6 months.

Sample Input: 20000

Sample Output: 10628

Here is the monthly payment schedule:

Month 1:

Payment: 10% of 20000 = 2000 Remaining amount: 18000

Month 2:

Payment: 10% of 18000 = 1800 Remaining amount: 16200

Month 3:

Payment: 10% of 16200 = 1620 Remaining amount: 14580

Month 4:

Payment: 10% of 14580 = 1458 Remaining amount: 13122

Month 5:

Payment: 10% of 13122 = 1313 Remaining amount: 11809

Month 6:

Payment: 10% of 11809 = 1181
Remaining amount: 10628​

Answer 1

Hi,This is your Answer