3) Write an algorithm to calculate the interest on a loan and the remaining balance after a specified payment is made. Interest and payment are made at the end of the year

4) Write an algorithm to determine insurance company payment and your payment

You may assume that the total charges are greater than the deductible

.

Deductible $1000 you pay all charges until this amount is reached.

Co pay 20% after the deductible after the deductible is used you pay this amount of charges

Prescription co pay $40 payment for each prescription, Insurance company pays rest. (not included in deductible)

The algorithm should be general but try the algorithm for this example

Total charges $5000

Prescriptions 3 for $65 each