The LENDER Bank offers mortgages on homes valued up to $500,000. The required down payment is calculated as follows:
4% of the first $60,000 borrowed
8% of the next $30,000 borrowed
10% of the rest
The amount borrowed cannot exceed 50% of the value of the house.
Write a program (interactive processing) to accept input from a keyboard that specifies for each borrower the amount that he or she wishes to borrow along with the price at which the house is valued. Based on the data entered, display the following:
1. A message that indicates if the amount the user wishes to borrow is acceptable (no more than 50% of the value).
2. The required down payment if the amount to be borrowed is acceptable.
The student must provide an MS Word document or Adobe PDF containing the pseudocode for the program.
*I have the COBOL source codes to work with but don''t see the option to attach through here. Please advise.