a) Fill in an IPO chart for the problem below A small local bank offers a term d

ID: 3855868 • Letter: A

Question

a) Fill in an IPO chart for the problem below

A small local bank offers a term deposit annual rate at 3%. An application should accept the customers bank account number, their details, the deposited amount and term duration in months, it should then calculate the interest and closing balance. For example, if someone is depositing $2000 for 3 month, the interest calculation will be 2000 * 0.03 / 12 * 3 = $15.

b) Provide the pseudo-code solution for the problem outlined in Question 2 above. Try to make the solution modular by including at least two modules or procedures to solve the problem at hand.

Explanation / Answer

Account no.

Amount

duration

Calculate Interest

interest = (amount * 0.03)/(duration * 12)

Calculate closing balance

balance = amount + interest

Balance

pseudo-code

1. Read amount, acc_no, duration

2. Calculate interest
interest = (amount * 0.03)/(duration * 12)

Calculate closing balance
balance = amount + interest
3. Print closing balance

Input Precessing Output