Answer to Question #54842 in Java | JSP | JSF for vin

Question

You have a credit account in a bank that gives you credit card service. The minimum payment for an account holder to pay back to the bank is 5% of the total credit balance (the outstanding balance) monthly. Assuming you always spend the same amount every month and you always pay only the minimum payment to the bank. Write a program to read in the monthly credit amount (one time only) and display the calculations for the columns shown below until the outstanding balance is more than one hundred thousand:

What is your monthly expenses: 2000

Month Current month Accumulated Payment made Outstanding balance
expenses amount
1 2000 2000 100 1900