Interest Calculation Demo

Lesson Details:

I: Introduction

A: Introduction to programming coding languages

What is a Programming Language?

A programming language is a formal language used to write computer programs.

Why do we need programming?

To instruct a computer to perform certain tasks

II: Body

A: Interest calculation demo

If you are in college or are planning to go to college, chances are you’re taking out student loans. These loans are typically repaid over time through monthly payments. One of the common methods used to calculate the amount due for these loans is based on the interest rate being charged on the loan. It can be difficult to understand how this interest rate is calculated, but with the help of the calculator below, it should become much easier to understand. You can either enter in the information manually or you can use the drop-down menu fields to select the appropriate information. The default values are set by using the parameters for a 6% annual interest rate compounded monthly. These are the same parameters that are used for loans taken out by students at Texas State University. As you can see, there are many different variables that go into determining the final interest rate that is charged on a loan. If you have any questions about the loan process, feel free to contact the Financial Aid Office at Texas State. This worksheet was created by Lindsey Nelsen for use in the Computer Science I course at Texas State University. If you find this useful, please let me know. This page can also be accessed at http://www.cs.txstate.edu/~lnelsen/index.html.

III: Conclusion