Answered Essay: Program 3: Credit Cards Being able to control the flow of a program is an important skill. It allows a running program to custo

Program 3: Credit Cards Being able to control the flow of a program is an important skill. It allows a running program to customize behavior based on user input or data values. This program is designed to get you working with control flows by means of if statements. Hopefully, it will also start you thinking about the dangers of credit card debt Things you will learn .If statements Nested if statements Dealing with Strings and real-valued inputs. Handling simple error conditions Formatting output . Specification The Bank of Evil issues credit cards with three different levels, each with a different interest rate. These include: Despicable member: 0.8% per month Horrible member: 2.0% per month Niceguy member: 3.1% per month * * If a Despicable level member makes a late payment, then their interest rate for the month increases by 1%. Thus, the interest rate would increase from 0.8% to 1.8% for the month. If an Horrible level member is late on a payment, their rate increases by 1.1%. In addition, they are assessed an extra $10 penalty for being late. 3 5 6 8 9 0
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Program 3: Credit Cards Being able to control the flow of a program is an important skill. It allows a running program to customize behavior based on user input or data values. This program is designed to get you working with control flows by means of “if” statements. Hopefully, it will also start you thinking about the dangers of credit card debt Things you will learn .If statements Nested if statements Dealing with Strings and real-valued inputs. Handling simple error conditions Formatting output . Specification The Bank of Evil issues credit cards with three different levels, each with a different interest rate. These include: Despicable member: 0.8% per month Horrible member: 2.0% per month Niceguy member: 3.1% per month * * If a Despicable level member makes a late payment, then their interest rate for the month increases by 1%. Thus, the interest rate would increase from 0.8% to 1.8% for the month. If an Horrible level member is late on a payment, their rate increases by 1.1%. In addition, they are assessed an extra $10 penalty for being late. 3 5 6 8 9 0

Expert Answer

 

Solution:

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Output:

Copyable Code:

import java.util.Scanner;
public class PaymentCalc {
//variables declaration
static String name,memberLevel,isLate;
static double interestRate;
static double currBalance,lateFee=0,minPayment,amtToPrinciple,percentToPrinciple,percentTointerest;
//main
public static void main(String args[])
{
//getting input
System.out.println(“nEnter a customer name:”);
Scanner s=new Scanner(System.in);
name=s.nextLine();
System.out.println(“nPlease enter the customer’s member level:”);
memberLevel=s.nextLine();
System.out.println(“nPlease enter the current balance:”);
currBalance=s.nextDouble();
System.out.println(“Was the payment made late?”);
isLate=s.next();
//condition to make interestrate
if(memberLevel.equals(“Despicable”)||memberLevel.equals(“despicable”)||memberLevel.equals(“DESPICABLE”))
{
if(isLate.toLowerCase().equals(“yes”))
{
interestRate=1.8;
}
else
interestRate=0.8;
}
else if(memberLevel.equals(“Horrible”)||memberLevel.equals(“horrible”)||memberLevel.equals(“HORRIBLE”))
{
if(isLate.toLowerCase().equals(“yes”))
{
interestRate=3.3;
lateFee=10;
}
else
interestRate=2;
}
else if(memberLevel.equals(“Niceguy”)||memberLevel.equals(“niceguy”)||memberLevel.equals(“NICEGUY”))
{
interestRate=1.2;
if(isLate.toLowerCase().equals(“yes”))
{
lateFee=20;
}
}
else
{
System.out.println(“nInvalid member level. Try again…”);
}

amtToPrinciple=(currBalance*4)/100;
minPayment=amtToPrinciple+lateFee+((currBalance*interestRate)/100);
percentToPrinciple=100*(amtToPrinciple/minPayment);
percentTointerest=100-percentToPrinciple;
System.out.println(“Billing information for “+name+”Customer Level: “+memberLevel);
System.out.println(“Credit Card Balance: $”+currBalance);
if(isLate.toLowerCase().equals(“yes”))
{
System.out.println(“Interest rate for late payment: “+interestRate +”% per month”);
System.out.println(“Late fee: $”+lateFee);
}
else
{
System.out.println(“nnInterest rate: “+interestRate+”% per month”);
}
//output statement
System.out.printf(“nnRequired minimum payment: $%.2f”,minPayment);
System.out.printf(“nnAmount going to principle: $%.2f”,amtToPrinciple);
System.out.printf(“nnPercent of minimum payment going to principle: %.2f”,percentToPrinciple);
System.out.printf(“Percent to Interest:$%.2f “,percentTointerest);
}

}

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